StockNews.com Begins Coverage on Camden National (NASDAQ:CAC)

Analysts at StockNews.com assumed coverage on shares of Camden National (NASDAQ:CAC) in a report released on Monday. The brokerage set a “hold” rating on the financial services provider’s stock.

CAC has been the subject of several other reports. Raymond James reiterated an “outperform” rating and issued 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 raised their target price on shares of Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th.

Camden National Trading Down 1.0 %

Camden National stock opened at $41.04 on Monday. The firm has a 50-day moving average of $43.54 and a 200-day moving average of $43.17. 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 company has a market cap of $692.14 million, a price-to-earnings ratio of 11.34 and a beta of 0.73.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.14. Camden National had a net margin of 18.02% and a return on equity of 10.38%. During the same period in the prior year, the company posted $0.85 earnings per share. On average, equities analysts expect that Camden National will post 4.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Camden National

Several hedge funds have recently bought and sold shares of CAC. Aquatic Capital Management LLC acquired a new stake in Camden National during the fourth quarter worth approximately $44,000. Federated Hermes Inc. acquired a new stake in Camden National during the fourth quarter worth approximately $46,000. Nisa Investment Advisors LLC lifted its position in Camden National by 18,500.0% during the fourth 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 last quarter. KLP Kapitalforvaltning AS acquired a new stake in Camden National during the fourth quarter worth approximately $103,000. Finally, Quantbot Technologies LP acquired a new stake in Camden National during the fourth quarter worth approximately $106,000. 77.41% of the stock is currently owned by institutional investors and hedge funds.

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.