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

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

Several other research firms have also issued reports on CAC. Keefe, Bruyette & Woods upped 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. Stephens boosted their target price on shares of Camden National from $35.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd.

Camden National Stock Up 0.3 %

CAC stock opened at $42.08 on Thursday. 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 stock has a market capitalization of $613.11 million, a P/E ratio of 13.15 and a beta of 0.72. Camden National has a fifty-two week low of $28.62 and a fifty-two week high of $43.75. The business has a 50-day moving average of $40.12 and a 200-day moving average of $36.17.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.11. Camden National had a net margin of 16.47% and a return on equity of 10.09%. The company had revenue of $75.13 million during the quarter, compared to analysts’ expectations of $43.90 million. During the same period last year, the business earned $0.96 EPS. On average, sell-side analysts anticipate that Camden National will post 3.42 earnings per share for the current fiscal year.

Camden National Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date was Tuesday, October 15th. Camden National’s dividend payout ratio is 52.50%.

Institutional Trading of Camden National

Institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in Camden National by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock worth $27,605,000 after buying an additional 26,450 shares in the last quarter. Renaissance Technologies LLC increased its stake in Camden National by 1.3% in the second quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock valued at $9,313,000 after acquiring an additional 3,600 shares during the last quarter. ProShare Advisors LLC raised its position in Camden National by 13.2% during the first quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock valued at $8,027,000 after purchasing an additional 28,007 shares in the last quarter. LSV Asset Management lifted its stake in Camden National by 8.4% during the second quarter. LSV Asset Management now owns 238,595 shares of the financial services provider’s stock worth $7,874,000 after purchasing an additional 18,517 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Camden National by 11.1% in the 2nd quarter. American Century Companies Inc. now owns 182,690 shares of the financial services provider’s stock valued at $6,029,000 after purchasing an additional 18,294 shares during the last quarter. Institutional investors 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.