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

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

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

Camden National Trading Down 0.5 %

NASDAQ:CAC opened at $47.25 on Friday. The company has a market cap of $688.91 million, a PE ratio of 14.77 and a beta of 0.72. The business’s 50 day moving average is $41.67 and its two-hundred day moving average is $37.26. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. Camden National has a 52 week low of $28.62 and a 52 week high of $50.07.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.11. Camden National had a return on equity of 9.95% and a net margin of 16.47%. The firm had revenue of $75.13 million for the quarter, compared to analysts’ expectations of $43.90 million. During the same period last year, the business posted $0.96 earnings per share. On average, analysts predict that Camden National will post 3.45 EPS for the current year.

Camden National Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were given a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.68 annualized dividend and a yield of 3.56%. Camden National’s dividend payout ratio is presently 52.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CAC. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Camden National during the second quarter valued at approximately $73,000. BNP Paribas Financial Markets increased its position 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. SG Americas Securities LLC raised its stake in Camden National by 58.1% during the 3rd quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock valued at $292,000 after acquiring an additional 2,602 shares in the last quarter. Inspire Investing LLC acquired a new position in Camden National during the 2nd quarter worth $349,000. Finally, US Bancorp DE grew its stake in shares of Camden National by 2.9% in the third quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 319 shares in 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.