Camden National (NASDAQ:CAC) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Camden National (NASDAQ:CAC) in a research report report published on Saturday morning. The brokerage issued a hold rating on the financial services provider’s stock.

A number of other analysts also recently weighed in on CAC. Raymond James restated an “outperform” rating and issued a $53.00 price target (up from $50.00) on shares of Camden National in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their price target on 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 Stock Down 0.6 %

Camden National stock opened at $41.47 on Friday. 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 company has a market cap of $604.51 million, a PE ratio of 11.46 and a beta of 0.73. The stock’s 50 day moving average price is $43.75 and its 200 day moving average price is $43.02.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, beating 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 period in the prior year, the firm earned $0.85 EPS. On average, sell-side analysts predict that Camden National will post 4.25 EPS for the current fiscal year.

Camden National Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were given a dividend of $0.42 per share. The ex-dividend date was Wednesday, January 15th. This represents a $1.68 dividend on an annualized basis and a yield of 4.05%. Camden National’s payout ratio is 46.41%.

Institutional Trading of Camden National

A number of institutional investors have recently bought and sold shares of CAC. Bryn Mawr Capital Management LLC purchased a new stake in Camden National during the fourth quarter worth $6,811,000. JPMorgan Chase & Co. lifted its position in shares of Camden National by 53.6% in the third quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock valued at $11,731,000 after acquiring an additional 99,097 shares in the last quarter. Davis R M Inc. purchased a new stake in shares of Camden National in the fourth quarter valued at $4,059,000. Franklin Resources Inc. lifted its position in shares of Camden National by 7.4% in the fourth quarter. Franklin Resources Inc. now owns 1,311,526 shares of the financial services provider’s stock valued at $56,055,000 after acquiring an additional 90,485 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Camden National in the third quarter valued at $1,729,000. 77.41% of the stock is currently 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.