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

Stock analysts at StockNews.com began coverage on shares of Camden National (NASDAQ:CAC) in a research note issued to investors on Saturday. The firm set a “hold” rating on the financial services provider’s stock.

Other analysts have also recently issued reports about the stock. Stephens upped their price target on shares of Camden National from $35.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods upped their price target 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 Down 0.5 %

Shares of NASDAQ CAC opened at $47.25 on Friday. Camden National has a 52-week low of $28.62 and a 52-week high of $50.07. The firm has a fifty day moving average of $41.48 and a 200-day moving average of $37.14. The stock has a market capitalization of $688.91 million, a PE ratio of 14.77 and a beta of 0.72. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.08.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. Camden National had a net margin of 16.47% and a return on equity of 9.95%. The firm had revenue of $75.13 million during the quarter, compared to analysts’ expectations of $43.90 million. During the same period in the prior year, the company earned $0.96 EPS. On average, analysts anticipate that Camden National will post 3.45 EPS for the current year.

Institutional Investors Weigh In On Camden National

A number of institutional investors have recently modified their holdings of CAC. Kimelman & Baird LLC acquired a new stake in Camden National during the second quarter worth about $4,943,000. Creative Planning raised its stake in Camden National by 65.3% during the third quarter. Creative Planning now owns 34,590 shares of the financial services provider’s stock worth $1,429,000 after acquiring an additional 13,663 shares during the period. Assenagon Asset Management S.A. raised its stake in Camden National by 194.1% during the third quarter. Assenagon Asset Management S.A. now owns 33,344 shares of the financial services provider’s stock worth $1,378,000 after acquiring an additional 22,007 shares during the period. Hantz Financial Services Inc. acquired a new stake in Camden National during the second quarter worth about $757,000. 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 during the period. 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.