Camden National (NASDAQ:CAC) Research Coverage Started at StockNews.com

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

A number of other research analysts also recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a research note on Wednesday, September 11th. Stephens raised their price objective on Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd.

Camden National Stock Down 2.2 %

Shares of Camden National stock opened at $40.18 on Wednesday. The firm has a market cap of $586.91 million, a price-to-earnings ratio of 13.35 and a beta of 0.72. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.81. Camden National has a 52-week low of $27.28 and a 52-week high of $43.50. The stock has a 50-day simple moving average of $39.74 and a 200-day simple moving average of $35.65.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.10. Camden National had a return on equity of 10.36% and a net margin of 16.01%. The business had revenue of $72.81 million for the quarter, compared to the consensus estimate of $41.07 million. During the same period last year, the business earned $0.85 EPS. On average, equities research analysts expect that Camden National will post 3.34 earnings per share for the current fiscal year.

Camden National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Tuesday, October 15th. Camden National’s dividend payout ratio is currently 55.81%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC grew its holdings in shares of Camden National by 2,990.3% during the 1st quarter. Signaturefd LLC now owns 38,567 shares of the financial services provider’s stock worth $1,293,000 after purchasing an additional 37,319 shares in the last quarter. Kimelman & Baird LLC acquired a new stake in shares of Camden National during the 2nd quarter worth approximately $4,943,000. ProShare Advisors LLC grew its holdings in shares of 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. Hantz Financial Services Inc. acquired a new stake in shares of Camden National during the 2nd quarter worth approximately $757,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Camden National by 89.3% during the 1st quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 3,330 shares in the last quarter. 77.41% of the stock is owned by institutional investors.

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.