Camden National (NASDAQ:CAC) Sees Unusually-High Trading Volume

Camden National Co. (NASDAQ:CAC) saw unusually-strong trading volume on Tuesday . Approximately 23,587 shares were traded during trading, a decline of 50% from the previous session’s volume of 47,059 shares.The stock last traded at $37.45 and had previously closed at $37.90.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CAC. StockNews.com upgraded Camden National from a “sell” rating to a “hold” rating in a research note on Saturday, June 1st. Keefe, Bruyette & Woods boosted their price objective on shares of Camden National from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Finally, Stephens raised their target price on shares of Camden National from $35.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd.

Camden National Stock Down 1.3 %

The firm’s 50-day moving average price is $37.45 and its 200-day moving average price is $33.75. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.81. The company has a market cap of $544.77 million, a price-to-earnings ratio of 12.59 and a beta of 0.72.

Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.71 by $0.10. The business had revenue of $72.81 million for the quarter, compared to the consensus estimate of $41.07 million. Camden National had a return on equity of 10.36% and a net margin of 16.01%. During the same period last year, the business posted $0.85 EPS. Sell-side analysts forecast that Camden National Co. will post 3.26 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th were issued a dividend of $0.42 per share. The ex-dividend date was Monday, July 15th. This represents a $1.68 annualized dividend and a yield of 4.49%. Camden National’s dividend payout ratio is presently 55.81%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CAC. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Camden National during the 2nd quarter valued at approximately $73,000. Quadrant Capital Group LLC lifted its position in shares of Camden National by 364.7% in the 4th quarter. Quadrant Capital Group LLC now owns 4,545 shares of the financial services provider’s stock worth $171,000 after buying an additional 3,567 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Camden National by 89.3% in the 1st quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock valued at $237,000 after buying an additional 3,330 shares during the period. Lmcg Investments LLC bought a new stake in shares of Camden National during the 4th quarter valued at about $288,000. Finally, Trexquant Investment LP acquired a new stake in Camden National during the fourth quarter worth about $294,000. 77.41% of the stock is owned by institutional investors and hedge funds.

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.