Camden National (NASDAQ:CAC) Now Covered by StockNews.com

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

A number of other equities research analysts have also recently commented on CAC. Stephens raised their price objective on shares of Camden National from $35.00 to $42.00 and gave the stock an equal weight rating in a research note on Friday, August 2nd. Keefe, Bruyette & Woods raised their price objective on shares of Camden National from $40.00 to $41.00 and gave the stock a market perform rating in a research note on Wednesday, September 11th.

Camden National Stock Performance

CAC opened at $38.75 on Friday. Camden National has a 12-month low of $26.52 and a 12-month high of $43.44. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $566.02 million, a PE ratio of 13.07 and a beta of 0.72. The firm has a 50 day moving average of $38.76 and a two-hundred day moving average of $34.58.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.10. Camden National had a net margin of 16.01% and a return on equity of 10.36%. The company had revenue of $72.81 million during the quarter, compared to analyst estimates of $41.07 million. During the same period last year, the firm posted $0.85 EPS. On average, analysts anticipate that Camden National will post 3.33 EPS for the current year.

Camden National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.34%. Camden National’s payout ratio is 55.81%.

Institutional Investors Weigh In On Camden National

Institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in Camden National in the 2nd quarter valued at $73,000. BNP Paribas Financial Markets grew its stake in Camden National by 89.3% in the 1st quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 3,330 shares during the period. Trexquant Investment LP acquired a new stake in Camden National in the 4th quarter valued at $294,000. Inspire Investing LLC acquired a new stake in Camden National in the 2nd quarter valued at $349,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Camden National by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,271 shares of the financial services provider’s stock valued at $546,000 after acquiring an additional 4,907 shares during the period. Institutional investors and hedge funds 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.