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

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

Other analysts have also issued research reports about the company. Keefe, Bruyette & Woods boosted their target price on Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a research report on Wednesday, September 11th. Stephens upped their price objective on Camden National from $35.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd.

Camden National Trading Down 0.5 %

CAC stock opened at $47.25 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.08. Camden National has a 12-month low of $28.62 and a 12-month high of $50.07. The stock has a market cap of $688.91 million, a price-to-earnings ratio of 14.77 and a beta of 0.72. The business’s 50-day moving average is $41.48 and its 200 day moving average is $37.14.

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

Institutional Investors Weigh In On Camden National

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Camden National during the 2nd quarter worth approximately $73,000. BNP Paribas Financial Markets grew its stake in Camden National by 89.3% in the 1st quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 3,330 shares during the period. SG Americas Securities LLC grew its stake in Camden National by 58.1% in the 3rd quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock worth $292,000 after acquiring an additional 2,602 shares during the period. Inspire Investing LLC purchased a new stake in Camden National in the 2nd quarter worth approximately $349,000. Finally, US Bancorp DE grew its stake 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 acquiring an additional 319 shares during the period. 77.41% of the stock is currently owned by institutional investors and hedge funds.

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.