Camden National (NASDAQ:CAC) Sees Large Volume Increase

Shares of Camden National Co. (NASDAQ:CAC – Get Rating) saw an uptick in trading volume on Thursday . 3,577 shares traded hands during trading, a decline of 91% from the previous session’s volume of 37,876 shares.The stock last traded at $44.71 and had previously closed at $45.12.

Separately, StockNews.com began coverage on shares of Camden National in a research note on Thursday, March 31st. They set a “hold” rating on the stock.

The firm’s 50 day moving average is $44.63 and its two-hundred day moving average is $47.24. The firm has a market cap of $652.52 million, a P/E ratio of 10.10 and a beta of 0.85. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.09.

Camden National (NASDAQ:CAC – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The financial services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.12. The business had revenue of $46.19 million for the quarter, compared to analyst estimates of $46.09 million. Camden National had a net margin of 33.66% and a return on equity of 12.52%. During the same quarter last year, the firm earned $1.32 EPS. Analysts predict that Camden National Co. will post 4.3 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Friday, April 15th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, April 13th. This represents a $1.60 annualized dividend and a yield of 3.59%. Camden National’s dividend payout ratio (DPR) is currently 36.20%.

A number of hedge funds have recently made changes to their positions in CAC. BlackRock Inc. increased its holdings in Camden National by 1.6% during the first quarter. BlackRock Inc. now owns 1,207,144 shares of the financial services provider’s stock worth $56,784,000 after buying an additional 18,448 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Camden National by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 761,452 shares of the financial services provider’s stock worth $35,819,000 after purchasing an additional 9,188 shares during the period. Vanguard Group Inc. boosted its position in Camden National by 2.2% during the first quarter. Vanguard Group Inc. now owns 726,669 shares of the financial services provider’s stock worth $34,183,000 after purchasing an additional 15,892 shares during the period. State Street Corp boosted its position in Camden National by 7.4% during the first quarter. State Street Corp now owns 399,048 shares of the financial services provider’s stock worth $18,771,000 after purchasing an additional 27,344 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Camden National by 8.9% during the fourth quarter. Renaissance Technologies LLC now owns 369,300 shares of the financial services provider’s stock worth $17,785,000 after purchasing an additional 30,200 shares during the period. Hedge funds and other institutional investors own 66.03% of the company’s stock.

About Camden National (NASDAQ:CAC)

Camden National Corporation operates as the bank holding company for Camden National Bank that provides various commercial and consumer banking products and services for consumer, institutional, municipal, non-profit, and commercial customers. The company accepts checking, savings, time, and brokered deposits, as well as deposits with the certificate of deposit account registry system.

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