Camden National (NASDAQ:CAC) Earns Hold Rating from Analysts at StockNews.com

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

Several other research firms 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 on the stock in a report on Friday, December 20th. Keefe, Bruyette & Woods upped their price target on shares of Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Camden National Trading Up 0.9 %

CAC stock opened at $45.86 on Monday. Camden National has a 52-week low of $28.62 and a 52-week high of $50.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. The firm has a market cap of $668.64 million, a P/E ratio of 14.33 and a beta of 0.76. The company’s 50-day simple moving average is $44.56 and its 200-day simple moving average is $41.83.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.89 by $0.14. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same period last year, the company earned $0.85 EPS. As a group, equities analysts forecast that Camden National will post 3.49 EPS for the current fiscal year.

Camden National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Wednesday, January 15th. Camden National’s payout ratio is 52.50%.

Institutional Trading of Camden National

Large investors have recently bought and sold shares of the business. Kimelman & Baird LLC purchased a new stake in shares of Camden National in the second quarter valued at approximately $4,943,000. JPMorgan Chase & Co. boosted its stake in Camden National by 53.6% during the third quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock worth $11,731,000 after buying an additional 99,097 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Camden National in the 3rd quarter valued at $1,729,000. Dimensional Fund Advisors LP increased its stake in shares of 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. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Camden National by 194.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 33,344 shares of the financial services provider’s stock worth $1,378,000 after acquiring an additional 22,007 shares during the period. Hedge funds and other institutional investors own 77.41% of the company’s stock.

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.