Camden National (NASDAQ:CAC) Sees Strong Trading Volume – What’s Next?

Camden National Corporation (NASDAQ:CAC) saw strong trading volume on Thursday . 157,849 shares were traded during mid-day trading, an increase of 61% from the previous session’s volume of 98,307 shares.The stock last traded at $51.6540 and had previously closed at $51.29.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods raised their price target on shares of Camden National from $47.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, April 29th. National Bank Financial set a $50.00 price target on shares of Camden National in a report on Wednesday, April 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Camden National in a report on Tuesday, June 9th. Finally, Raymond James Financial reissued an “outperform” rating and set a $56.00 target price on shares of Camden National in a report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $52.25.

Camden National Trading Up 0.5%

The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.82. The company’s fifty day moving average is $49.82 and its 200-day moving average is $47.45. The stock has a market cap of $872.40 million, a PE ratio of 10.98 and a beta of 0.56.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. Camden National had a net margin of 21.32% and a return on equity of 11.78%. The firm had revenue of $64.34 million during the quarter, compared to analysts’ expectations of $65.57 million. On average, analysts predict that Camden National Corporation will post 5.39 earnings per share for the current fiscal year.

Camden National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 15th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.3%. The ex-dividend date was Wednesday, April 15th. Camden National’s dividend payout ratio (DPR) is currently 35.74%.

Institutional Trading of Camden National

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in Camden National by 106.1% during the first quarter. PNC Financial Services Group Inc. now owns 878 shares of the financial services provider’s stock valued at $42,000 after buying an additional 452 shares during the period. Russell Investments Group Ltd. grew its position in Camden National by 13,790.0% during the third quarter. Russell Investments Group Ltd. now owns 1,389 shares of the financial services provider’s stock valued at $54,000 after buying an additional 1,379 shares during the period. Advisory Services Network LLC acquired a new stake in Camden National during the third quarter valued at $58,000. Nisa Investment Advisors LLC grew its position in Camden National by 15,220.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,532 shares of the financial services provider’s stock valued at $66,000 after buying an additional 1,522 shares during the period. Finally, Parallel Advisors LLC grew its position in shares of Camden National by 114.5% in the first quarter. Parallel Advisors LLC now owns 1,950 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 1,041 shares during the period. Institutional investors and hedge funds own 77.41% of the company’s stock.

Camden National Company Profile

Camden National Corporation is a bank holding company headquartered in Camden, Maine. Through its primary subsidiary, Camden National Bank, the company provides a full range of community banking services to individuals and businesses. Its branch network spans much of the State of Maine, with a concentration in the midcoast, central and southern regions.

The company’s offerings include deposit products such as checking, savings and money market accounts, along with consumer and commercial lending services.