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

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

Separately, Keefe, Bruyette & Woods lifted their price objective on Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a research note on Wednesday, September 11th.

Camden National Price Performance

Camden National stock opened at $47.20 on Monday. The company’s 50 day moving average is $43.49 and its two-hundred day moving average is $38.48. The firm has a market cap of $688.18 million, a PE ratio of 14.75 and a beta of 0.72. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. Camden National has a 52-week low of $28.62 and a 52-week high of $50.07.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.11. Camden National had a return on equity of 9.95% and a net margin of 16.47%. The business had revenue of $75.13 million for the quarter, compared to analysts’ expectations of $43.90 million. During the same period last year, the firm earned $0.96 earnings per share. On average, research analysts expect that Camden National will post 3.45 EPS for the current fiscal year.

Camden National Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a $0.42 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.56%. Camden National’s payout ratio is 52.50%.

Institutional Trading of Camden National

A number of institutional investors have recently bought and sold shares of the business. Kimelman & Baird LLC purchased a new stake in shares of Camden National during the 2nd quarter worth approximately $4,943,000. Segall Bryant & Hamill LLC purchased a new stake in Camden National in the third quarter valued at $1,729,000. Dimensional Fund Advisors LP lifted its position in Camden National by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock valued at $27,605,000 after acquiring an additional 26,450 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in Camden National in the second quarter valued at $757,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Camden National by 194.1% during the third quarter. Assenagon Asset Management S.A. now owns 33,344 shares of the financial services provider’s stock worth $1,378,000 after purchasing an additional 22,007 shares in the last quarter. 77.41% of the stock is owned by hedge funds and other institutional investors.

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.