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

Research analysts at StockNews.com initiated coverage on shares of Camden National (NASDAQ:CAC) in a research report issued to clients and investors on Sunday. The firm set a “hold” rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods raised their price target on Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a report on Wednesday, September 11th. Stephens increased their target price on Camden National from $35.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd.

Camden National Trading Up 0.8 %

Shares of Camden National stock opened at $48.34 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $704.80 million, a PE ratio of 15.11 and a beta of 0.72. Camden National has a 1-year low of $28.62 and a 1-year high of $50.07. The company’s fifty day simple moving average is $42.74 and its 200-day simple moving average is $37.97.

Camden National (NASDAQ:CAC) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.11. The business had revenue of $75.13 million during the quarter, compared to analyst estimates of $43.90 million. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same quarter in the previous year, the company posted $0.96 earnings per share. As a group, equities analysts anticipate that Camden National will post 3.45 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAC. Price T Rowe Associates Inc. MD lifted its position 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 worth $546,000 after buying an additional 4,907 shares during the last quarter. Clean Yield Group lifted its holdings in shares of Camden National by 14.5% in the 1st quarter. Clean Yield Group now owns 92,421 shares of the financial services provider’s stock worth $3,098,000 after acquiring an additional 11,672 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Camden National by 4.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 90,944 shares of the financial services provider’s stock valued at $3,001,000 after purchasing an additional 3,937 shares during the last quarter. Signaturefd LLC grew its holdings in Camden National by 30.9% during the 2nd quarter. Signaturefd LLC now owns 50,491 shares of the financial services provider’s stock valued at $1,666,000 after purchasing an additional 11,924 shares during the last quarter. Finally, Hantz Financial Services Inc. bought a new stake in Camden National in the second quarter worth about $757,000. Hedge funds and other 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.