Camden National (NASDAQ:CAC) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Camden National (NASDAQ:CAC) in a research note released on Tuesday morning. The firm issued a hold rating on the financial services provider’s stock.

A number of other analysts have also recently weighed in on the company. Stephens upped 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 boosted their target price on Camden National from $40.00 to $41.00 and gave the stock a market perform rating in a report on Wednesday, September 11th.

Camden National Stock Performance

CAC opened at $42.19 on Tuesday. The stock has a market cap of $616.27 million, a PE ratio of 14.02 and a beta of 0.72. Camden National has a 1 year low of $26.52 and a 1 year high of $43.44. The stock’s 50 day simple moving average is $38.94 and its 200-day simple moving average is $35.14. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.10. The firm had revenue of $72.81 million for the quarter, compared to analyst estimates of $41.07 million. Camden National had a net margin of 16.01% and a return on equity of 10.36%. During the same quarter in the previous year, the firm posted $0.85 EPS. Sell-side analysts forecast that Camden National will post 3.34 EPS for the current year.

Camden National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Tuesday, October 15th. Camden National’s dividend payout ratio is currently 55.81%.

Institutional Trading of Camden National

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. bought a new position in Camden National in the second quarter valued at about $73,000. BNP Paribas Financial Markets boosted its stake in shares of 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 last quarter. SG Americas Securities LLC grew its position in shares of Camden National by 58.1% during the 3rd quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock worth $292,000 after buying an additional 2,602 shares during the period. Inspire Investing LLC bought a new stake in shares of Camden National during the second quarter worth approximately $349,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Camden National by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,271 shares of the financial services provider’s stock valued at $546,000 after buying an additional 4,907 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.