Camden National (NASDAQ:CAC) Coverage Initiated by Analysts at StockNews.com

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

Several other equities research analysts have also commented on CAC. Raymond James upgraded shares of Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Friday, December 20th. Keefe, Bruyette & Woods upped their target price on shares of Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Camden National Price Performance

Shares of CAC opened at $43.36 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. Camden National has a fifty-two week low of $28.62 and a fifty-two week high of $50.07. The company has a market cap of $632.06 million, a P/E ratio of 13.55 and a beta of 0.75. The firm’s 50 day moving average price is $45.12 and its 200 day moving average price is $39.95.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. Camden National had a return on equity of 9.95% and a net margin of 16.47%. The company had revenue of $75.13 million during the quarter, compared to analysts’ expectations of $43.90 million. During the same quarter in the previous year, the business earned $0.96 earnings per share. On average, research analysts forecast that Camden National will post 3.49 earnings per share for the current fiscal year.

Camden National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date is Wednesday, January 15th. Camden National’s dividend payout ratio is currently 52.50%.

Institutional Investors Weigh In On Camden National

Several institutional investors and hedge funds have recently made changes to their positions in CAC. Northwestern Mutual Wealth Management Co. purchased a new position in Camden National during the 2nd quarter valued at about $73,000. SG Americas Securities LLC grew its position in shares of Camden National by 58.1% in the third quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 2,602 shares during the last quarter. Inspire Investing LLC acquired a new position in shares of Camden National during the 2nd quarter worth approximately $349,000. US Bancorp DE lifted its stake in Camden National by 2.9% in the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock valued at $461,000 after buying an additional 319 shares in the last quarter. Finally, Coston McIsaac & Partners grew its holdings in Camden National by 18.6% during the 3rd 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 last quarter. 77.41% of the stock is currently owned by hedge funds and other 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.