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

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

A number of other analysts have also issued reports on CAC. Stephens increased their price target on shares of Camden National from $35.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods increased their price target on shares of Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 11th.

Camden National Stock Performance

Shares of CAC opened at $40.18 on Wednesday. The company has a 50-day moving average of $39.74 and a two-hundred day moving average of $35.68. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.81. The stock has a market cap of $586.91 million, a price-to-earnings ratio of 13.35 and a beta of 0.72. Camden National has a one year low of $27.28 and a one year high of $43.50.

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. The business had revenue of $72.81 million during the quarter, compared to analyst estimates of $41.07 million. Camden National had a net margin of 16.01% and a return on equity of 10.36%. During the same period in the prior year, the firm earned $0.85 earnings per share. On average, equities research analysts expect that Camden National will post 3.34 earnings per share for the current year.

Camden National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.18%. The ex-dividend date is Tuesday, October 15th. Camden National’s payout ratio is presently 55.81%.

Hedge Funds Weigh In On Camden National

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. bought a new position in shares of Camden National in the second quarter valued at approximately $73,000. BNP Paribas Financial Markets grew its stake in shares of Camden National by 89.3% in the first quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 3,330 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Camden National by 58.1% in the third quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock worth $292,000 after acquiring an additional 2,602 shares during the last quarter. Inspire Investing LLC acquired a new stake in shares of Camden National in the second quarter worth $349,000. Finally, Coston McIsaac & Partners grew its stake in shares of Camden National by 18.6% in the third quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock worth $480,000 after acquiring an additional 1,819 shares during the last quarter. 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.