Camden National (NASDAQ:CAC) Rating Increased to Outperform at Raymond James

Raymond James upgraded shares of Camden National (NASDAQ:CAC) from a market perform rating to an outperform rating in a research report report published on Friday, MarketBeat Ratings reports. They currently have $50.00 price target on the financial services provider’s stock.

A number of other equities research analysts have also recently weighed in on CAC. Keefe, Bruyette & Woods lifted their price target on shares of Camden National from $43.00 to $48.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com initiated coverage on shares of Camden National in a report on Wednesday. They issued a “hold” rating for the company.

Camden National Stock Up 2.7 %

CAC stock opened at $43.42 on Friday. Camden National has a one year low of $28.62 and a one year high of $50.07. The firm has a market cap of $632.93 million, a PE ratio of 13.57 and a beta of 0.75. The firm’s 50 day moving average price is $45.07 and its 200-day moving average price is $39.67. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.83 by $0.11. The business had revenue of $75.13 million for the quarter, compared to analyst estimates of $43.90 million. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same quarter in the prior year, the company posted $0.96 EPS. On average, equities research analysts anticipate that Camden National will post 3.49 EPS for the current year.

Camden National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.42 per share. The ex-dividend date is Wednesday, January 15th. This represents a $1.68 annualized dividend and a yield of 3.87%. Camden National’s dividend payout ratio (DPR) is 52.50%.

Institutional Trading of Camden National

Several hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Camden National during the second quarter worth $73,000. SG Americas Securities LLC boosted its position in shares of 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 worth $292,000 after acquiring an additional 2,602 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of Camden National during the 2nd quarter worth about $349,000. US Bancorp DE raised its position in shares of Camden National by 2.9% during the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock worth $461,000 after acquiring an additional 319 shares in the last quarter. Finally, Coston McIsaac & Partners lifted its stake in Camden National by 18.6% during the third quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock worth $480,000 after purchasing an additional 1,819 shares during the last quarter. 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.