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

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

A number of other brokerages also recently issued reports on CAC. Raymond James raised shares of Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Friday, December 20th. Keefe, Bruyette & Woods upped their target price on Camden National from $43.00 to $48.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Camden National Stock Up 0.4 %

CAC stock opened at $44.05 on Friday. The stock’s 50 day moving average is $44.94 and its 200-day moving average is $41.37. Camden National has a twelve month low of $28.62 and a twelve month high of $50.07. The firm has a market capitalization of $642.12 million, a PE ratio of 13.77 and a beta of 0.76. 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 (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, beating 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 last year, the business earned $0.96 EPS. Sell-side analysts expect that Camden National will post 3.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Camden National

A number of hedge funds have recently modified their holdings of the stock. Rhumbline Advisers increased its position in Camden National by 1.4% in the second quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock worth $762,000 after buying an additional 319 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Camden National by 11.1% during the 2nd quarter. American Century Companies Inc. now owns 182,690 shares of the financial services provider’s stock worth $6,029,000 after acquiring an additional 18,294 shares during the period. Dimensional Fund Advisors LP increased its holdings in Camden National by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock worth $27,605,000 after acquiring an additional 26,450 shares during the last quarter. Renaissance Technologies LLC raised its stake in Camden National by 1.3% in the 2nd quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock valued at $9,313,000 after acquiring an additional 3,600 shares during the period. Finally, Inspire Investing LLC purchased a new stake in Camden National during the second quarter valued at about $349,000. Institutional investors own 77.41% of the company’s stock.

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.