Camden National (NASDAQ:CAC) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Camden National (NASDAQ:CAC) in a report released on Friday. The firm set a “hold” rating on the financial services provider’s stock.

A number of other analysts have also recently weighed in on CAC. Raymond James upgraded Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research report on Friday, December 20th. Keefe, Bruyette & Woods boosted their price objective on 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 Stock Performance

Shares of CAC opened at $42.25 on Friday. The company has a 50-day moving average of $45.28 and a two-hundred day moving average of $40.36. The stock has a market cap of $615.88 million, a P/E ratio of 13.20 and a beta of 0.75. Camden National has a 12-month low of $28.62 and a 12-month high of $50.07. 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 (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. The firm had revenue of $75.13 million during the quarter, compared to the consensus estimate 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 business earned $0.96 earnings per share. As a group, research analysts predict that Camden National will post 3.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers lifted its position in shares of Camden National by 1.4% during the 2nd quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock worth $762,000 after purchasing an additional 319 shares during the last quarter. US Bancorp DE grew 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 worth $461,000 after acquiring an additional 319 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Camden National by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock valued at $4,876,000 after purchasing an additional 674 shares during the last quarter. Apollon Wealth Management LLC increased its position in Camden National by 3.0% in the third quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider’s stock worth $1,258,000 after purchasing an additional 900 shares during the period. 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 worth $480,000 after acquiring an additional 1,819 shares during the period. 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.