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

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

Other analysts have also recently issued research reports about the stock. Stephens upped their price target on shares of 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 increased their price objective on shares of 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 Performance

Shares of NASDAQ:CAC opened at $41.19 on Wednesday. The company’s 50 day simple moving average is $39.61 and its 200 day simple moving average is $35.56. The stock has a market capitalization of $601.66 million, a price-to-earnings ratio of 13.68 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 1 year low of $26.52 and a 1 year high of $43.50.

Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share 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 analysts’ expectations 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 earnings per share. As a group, research analysts predict that Camden National will post 3.34 EPS for the current fiscal year.

Camden National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.42 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.08%. Camden National’s dividend payout ratio (DPR) is presently 55.81%.

Institutional Investors Weigh In On Camden National

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers raised its holdings in shares of Camden National by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock worth $762,000 after acquiring an additional 319 shares during the last quarter. Coston McIsaac & Partners raised its holdings in shares of Camden National by 18.6% in the 3rd quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock worth $480,000 after acquiring an additional 1,819 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in Camden National in the 2nd quarter valued at about $73,000. Empowered Funds LLC increased its stake in Camden National by 7.9% in the 1st quarter. Empowered Funds LLC now owns 33,496 shares of the financial services provider’s stock valued at $1,123,000 after buying an additional 2,450 shares during the last quarter. Finally, SG Americas Securities LLC increased 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 during the last quarter. Institutional investors and hedge funds 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.