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

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

CAC has been the subject of several other research reports. Raymond James raised shares of Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Friday, December 20th. Keefe, Bruyette & Woods increased their target price on shares of Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

Check Out Our Latest Stock Analysis on CAC

Camden National Trading Up 1.5 %

Shares of CAC stock opened at $44.45 on Monday. The business has a 50-day moving average of $44.61 and a 200 day moving average of $41.70. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. Camden National has a 1-year low of $28.62 and a 1-year high of $50.07. The stock has a market capitalization of $648.12 million, a PE ratio of 13.89 and a beta of 0.76.

Camden National (NASDAQ:CACGet Free Report) last released 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 firm had revenue of $75.13 million during the quarter, compared to analyst estimates of $43.90 million. During the same quarter in the prior year, the firm posted $0.96 earnings per share. As a group, sell-side analysts anticipate that Camden National will post 3.49 earnings per share for the current year.

Camden National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Wednesday, January 15th. Camden National’s payout ratio is 52.50%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CAC. US Bancorp DE lifted its position in shares of 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 purchasing an additional 319 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Camden National by 0.6% in the third 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 boosted its position in 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 valued at $1,258,000 after acquiring an additional 900 shares in the last quarter. Coston McIsaac & Partners boosted its position in Camden National by 11.8% during the 4th quarter. Coston McIsaac & Partners now owns 12,997 shares of the financial services provider’s stock valued at $555,000 after acquiring an additional 1,376 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Camden National by 18,500.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock worth $79,000 after acquiring an additional 1,850 shares during the period. 77.41% of the stock is owned by hedge funds and other institutional investors.

Camden National Company Profile

(Get Free Report)

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.

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