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

StockNews.com started coverage on shares of Camden National (NASDAQ:CAC) in a research report sent to investors on Wednesday morning. The brokerage issued a hold rating on the financial services provider’s stock.

Several other research firms have also recently commented on CAC. Keefe, Bruyette & Woods upped their target price on shares of Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 29th. Raymond James reaffirmed 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.

Camden National Stock Performance

Camden National stock opened at $44.57 on Wednesday. The company has a market capitalization of $649.70 million, a price-to-earnings ratio of 12.31 and a beta of 0.77. 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 12-month low of $28.62 and a 12-month high of $50.07. The firm’s fifty day moving average price is $44.09 and its 200 day moving average price is $42.35.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.14. Camden National had a net margin of 18.02% and a return on equity of 10.38%. During the same quarter last year, the company posted $0.85 earnings per share. On average, research analysts forecast that Camden National will post 4.25 EPS for the current fiscal year.

Camden National Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.77%. Camden National’s dividend payout ratio (DPR) is 46.41%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Aquatic Capital Management LLC bought a new stake in Camden National in the 4th quarter valued at $44,000. Federated Hermes Inc. acquired a new stake in Camden National in the 4th quarter valued at about $46,000. Nisa Investment Advisors LLC increased its position in Camden National by 18,500.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 1,850 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Camden National in the 4th quarter valued at about $103,000. Finally, Quantbot Technologies LP bought a new position in shares of Camden National in the 4th quarter valued at about $106,000. Institutional investors and hedge funds 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.