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

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

A number of other brokerages have also recently commented on CAC. Keefe, Bruyette & Woods lifted 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 reissued an “outperform” rating and issued a $53.00 price target (up previously from $50.00) on shares of Camden National in a report on Wednesday, January 29th.

Camden National Stock Performance

Shares of NASDAQ CAC opened at $43.98 on Friday. The stock’s 50-day moving average is $43.82 and its 200 day moving average is $42.80. The stock has a market cap of $641.10 million, a price-to-earnings ratio of 12.15 and a beta of 0.77. Camden National has a 1-year low of $28.62 and a 1-year high of $50.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates 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 in the previous year, the company earned $0.85 EPS. On average, sell-side analysts anticipate that Camden National will post 4.25 EPS for the current fiscal year.

Camden National Dividend Announcement

The firm also recently announced 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 3.82%. Camden National’s dividend payout ratio (DPR) is presently 46.41%.

Institutional Trading of Camden National

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in Camden National by 53.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock worth $11,731,000 after purchasing an additional 99,097 shares in the last quarter. Barclays PLC increased its position in shares of Camden National by 38.9% during the third quarter. Barclays PLC now owns 48,339 shares of the financial services provider’s stock valued at $1,998,000 after buying an additional 13,542 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Camden National in the third quarter worth about $659,000. Geode Capital Management LLC lifted its holdings in Camden National by 1.2% in the third quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock worth $14,236,000 after buying an additional 4,067 shares during the period. Finally, Segall Bryant & Hamill LLC bought a new stake in Camden National during the 3rd quarter valued at approximately $1,729,000. Hedge funds and other 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.