Camden National (NASDAQ:CAC) Sees Large Volume Increase

Shares of Camden National Co. (NASDAQ:CAC) saw an uptick in trading volume on Tuesday . 69,973 shares traded hands during trading, an increase of 47% from the previous session’s volume of 47,471 shares.The stock last traded at $41.06 and had previously closed at $40.05.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Camden National from a “sell” rating to a “hold” rating in a research report on Saturday, June 1st.

Camden National Stock Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s 50-day moving average is $33.71 and its 200 day moving average is $32.96. The firm has a market cap of $613.18 million, a P/E ratio of 13.31 and a beta of 0.74.

Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.14. Camden National had a net margin of 16.56% and a return on equity of 10.66%. The business had revenue of $41.60 million during the quarter, compared to analysts’ expectations of $41.72 million. On average, research analysts predict that Camden National Co. will post 3.13 earnings per share for the current year.

Camden National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Monday, July 15th. Camden National’s dividend payout ratio (DPR) is presently 55.81%.

Hedge Funds Weigh In On Camden National

A number of large investors have recently added to or reduced their stakes in the company. Signaturefd LLC increased its holdings in Camden National by 30.9% during the 2nd quarter. Signaturefd LLC now owns 50,491 shares of the financial services provider’s stock worth $1,666,000 after purchasing an additional 11,924 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Camden National by 4.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 90,944 shares of the financial services provider’s stock worth $3,001,000 after purchasing an additional 3,937 shares in the last quarter. Clean Yield Group increased its holdings in Camden National by 18.4% during the 2nd quarter. Clean Yield Group now owns 109,441 shares of the financial services provider’s stock worth $3,612,000 after purchasing an additional 17,020 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Camden National by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,271 shares of the financial services provider’s stock worth $546,000 after purchasing an additional 4,907 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in Camden National by 13.2% during the 1st quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock worth $8,027,000 after purchasing an additional 28,007 shares in the last quarter. Institutional investors own 77.41% of the company’s stock.

About Camden National

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 in Maine, New Hampshire, and Massachusetts. The company accepts checking, savings, time, and brokered deposits, as well as deposits with the certificate of deposit account registry system.