StockNews.com Initiates Coverage on Camden National (NASDAQ:CAC)

StockNews.com assumed coverage on shares of Camden National (NASDAQ:CAC) in a research report report published on Thursday morning. The brokerage issued a hold rating on the financial services provider’s stock.

CAC has been the subject of several other research reports. Raymond James reiterated an “outperform” rating and set a $53.00 price target (up previously from $50.00) on shares of Camden National in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods upped their price target on Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th.

Camden National Stock Performance

Shares of CAC stock opened at $43.91 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. Camden National has a fifty-two week low of $28.62 and a fifty-two week high of $50.07. The stock’s 50-day moving average is $43.91 and its two-hundred day moving average is $42.51. The firm has a market cap of $640.21 million, a P/E ratio of 12.13 and a beta of 0.77.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.14. Camden National had a return on equity of 10.38% and a net margin of 18.02%. During the same period last year, the company posted $0.85 EPS. Analysts predict that Camden National will post 4.25 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were paid a dividend of $0.42 per share. The ex-dividend date was Wednesday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.83%. Camden National’s dividend payout ratio (DPR) is presently 46.41%.

Institutional Trading of Camden National

Several large investors have recently made changes to their positions in CAC. Bryn Mawr Capital Management LLC bought a new stake in Camden National during the 4th quarter valued at approximately $6,811,000. JPMorgan Chase & Co. boosted its stake in Camden National by 53.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock valued at $11,731,000 after purchasing an additional 99,097 shares during the period. Davis R M Inc. bought a new stake in Camden National during the 4th quarter valued at approximately $4,059,000. Franklin Resources Inc. boosted its stake in Camden National by 7.4% during the 4th quarter. Franklin Resources Inc. now owns 1,311,526 shares of the financial services provider’s stock valued at $56,055,000 after purchasing an additional 90,485 shares during the period. Finally, Segall Bryant & Hamill LLC bought a new stake in Camden National during the 3rd quarter valued at approximately $1,729,000. Institutional investors own 77.41% of the company’s stock.

Camden National Company Profile

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.