Camden National (NASDAQ:CAC) Coverage Initiated by Analysts at StockNews.com

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

Several other equities research analysts also recently issued reports on CAC. Stephens raised their price target on Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods lifted their price target on Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 11th.

Camden National Stock Up 1.8 %

Shares of NASDAQ CAC traded up $0.84 during mid-day trading on Friday, reaching $47.90. 44,535 shares of the company traded hands, compared to its average volume of 51,062. The company’s fifty day moving average is $40.73 and its two-hundred day moving average is $36.64. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.82. Camden National has a fifty-two week low of $28.62 and a fifty-two week high of $50.05. The stock has a market cap of $698.14 million, a PE ratio of 14.97 and a beta of 0.72.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.83 by $0.11. Camden National had a return on equity of 10.09% and a net margin of 16.47%. The company had revenue of $75.13 million for the quarter, compared to the consensus estimate of $43.90 million. During the same quarter last year, the company posted $0.96 earnings per share. On average, analysts expect that Camden National will post 3.45 earnings per share for the current year.

Camden National Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend was Tuesday, October 15th. Camden National’s payout ratio is presently 52.50%.

Institutional Trading of Camden National

A number of institutional investors and hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new position in Camden National in the second quarter worth about $73,000. BNP Paribas Financial Markets lifted its position 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 buying an additional 3,330 shares during the period. SG Americas Securities LLC boosted its stake in Camden National by 58.1% in the 3rd quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock valued at $292,000 after buying an additional 2,602 shares in the last quarter. Inspire Investing LLC bought a new stake in Camden National in the second quarter valued at $349,000. Finally, US Bancorp DE raised its stake in Camden National by 2.9% during the third quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock worth $461,000 after acquiring an additional 319 shares in the last quarter. 77.41% of the stock is currently 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.