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

Equities researchers at StockNews.com assumed coverage on shares of Camden National (NASDAQ:CAC) in a research note issued on Sunday. The brokerage set a “hold” rating on the financial services provider’s stock.

CAC has been the topic of a number of other reports. Raymond James reiterated an “outperform” rating and set a $53.00 target price (up from $50.00) on shares of Camden National in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their price objective on Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, January 29th.

Camden National Trading Up 1.5 %

NASDAQ CAC opened at $41.31 on Friday. The stock has a market capitalization of $696.69 million, a price-to-earnings ratio of 11.41 and a beta of 0.73. Camden National has a one year low of $28.62 and a one year high of $50.07. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. The business’s fifty day moving average is $43.57 and its 200-day moving average is $43.08.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.14. Camden National had a return on equity of 10.38% and a net margin of 18.02%. During the same quarter in the previous year, the business posted $0.85 EPS. Equities research analysts predict that Camden National will post 4.25 EPS for the current year.

Institutional Investors Weigh In On Camden National

Several large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in Camden National by 7.4% during the 4th quarter. Franklin Resources Inc. now owns 1,311,526 shares of the financial services provider’s stock valued at $56,055,000 after buying an additional 90,485 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Camden National by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 858,979 shares of the financial services provider’s stock valued at $36,713,000 after buying an additional 15,822 shares in the last quarter. Geode Capital Management LLC grew its holdings in Camden National by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock valued at $14,236,000 after buying an additional 4,067 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Camden National by 12.6% during the 4th quarter. JPMorgan Chase & Co. now owns 319,794 shares of the financial services provider’s stock valued at $13,668,000 after buying an additional 35,883 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Camden National by 2.7% during the 4th quarter. Renaissance Technologies LLC now owns 289,800 shares of the financial services provider’s stock valued at $12,386,000 after buying an additional 7,500 shares in the last quarter. 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.