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

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

A number of other brokerages have also 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 note on Friday, December 20th. Keefe, Bruyette & Woods upped their price target on shares of Camden National from $43.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Camden National Stock Performance

Shares of NASDAQ:CAC opened at $41.51 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $605.09 million, a price-to-earnings ratio of 12.97 and a beta of 0.76. The firm has a 50 day moving average of $45.29 and a 200 day moving average of $40.78. Camden National has a 52 week low of $28.62 and a 52 week high of $50.07.

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, topping 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 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 business posted $0.96 EPS. On average, sell-side analysts predict that Camden National will post 3.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Camden National

Several institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Camden National during the 2nd quarter worth approximately $73,000. SG Americas Securities LLC increased its stake in shares of Camden National by 58.1% during the third quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 2,602 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of Camden National during the 2nd quarter worth about $349,000. US Bancorp DE boosted its holdings 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 worth $461,000 after buying an additional 319 shares during the last quarter. Finally, Coston McIsaac & Partners increased its stake 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 buying an additional 1,819 shares in the last quarter. 77.41% of the stock is owned by hedge funds and other institutional investors.

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.