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

StockNews.com began coverage on shares of Camden National (NASDAQ:CAC) in a report issued on Wednesday morning. The firm issued a hold rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods lifted their target price on Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

Camden National Price Performance

NASDAQ CAC opened at $43.42 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. Camden National has a 12 month low of $28.62 and a 12 month high of $50.07. The stock has a market cap of $632.93 million, a price-to-earnings ratio of 13.57 and a beta of 0.75. The company’s 50 day moving average is $45.07 and its two-hundred day moving average is $39.67.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. The business had revenue of $75.13 million for the quarter, compared to analysts’ expectations of $43.90 million. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same period last year, the firm earned $0.96 earnings per share. As a group, research analysts anticipate that Camden National will post 3.49 earnings per share for the current year.

Camden National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.87%. Camden National’s dividend payout ratio (DPR) is presently 52.50%.

Institutional Trading of Camden National

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers raised its stake in shares of Camden National by 1.4% during the second quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock valued at $762,000 after acquiring an additional 319 shares in the last quarter. US Bancorp DE raised its position in Camden National by 2.9% during the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock valued at $461,000 after purchasing an additional 319 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Camden National by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock worth $4,876,000 after buying an additional 674 shares during the period. Apollon Wealth Management LLC grew its position in shares of Camden National by 3.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider’s stock worth $1,258,000 after buying an additional 900 shares in the last quarter. Finally, Coston McIsaac & Partners increased its stake in shares of Camden National by 18.6% during the third quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock valued at $480,000 after buying an additional 1,819 shares during the period. 77.41% of the stock is currently owned by institutional investors.

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.