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

Equities researchers at StockNews.com began coverage on shares of Camden National (NASDAQ:CAC) in a report issued on Sunday. The brokerage set a “hold” rating on the financial services provider’s stock.

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

Camden National Stock Performance

Shares of CAC stock opened at $40.08 on Friday. Camden National has a fifty-two week low of $26.52 and a fifty-two week high of $43.44. The stock’s 50-day moving average is $38.69 and its two-hundred day moving average is $34.43. 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 firm has a market cap of $585.45 million, a P/E ratio of 13.32 and a beta of 0.72.

Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.10. The firm 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 quarter in the prior year, the company posted $0.85 earnings per share. Analysts predict that Camden National will post 3.33 earnings per share for the current fiscal year.

Institutional Trading of Camden National

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in shares of Camden National by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 775,647 shares of the financial services provider’s stock valued at $29,189,000 after acquiring an additional 8,046 shares during the period. Trexquant Investment LP acquired a new position in Camden National during the 4th quarter valued at $294,000. BNP Paribas Financial Markets boosted its holdings in 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 purchasing an additional 3,330 shares during the period. Signaturefd LLC grew its position in Camden National by 2,990.3% in 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 during the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Camden National by 7.9% during the 1st quarter. Empowered Funds LLC now owns 33,496 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 2,450 shares during the period. Institutional investors and hedge funds own 77.41% of the company’s stock.

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.