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

StockNews.com started coverage on shares of Camden National (NASDAQ:CAC) in a research note issued to investors on Tuesday. The brokerage issued a hold rating on the financial services provider’s stock.

A number of other research firms have also commented on CAC. Keefe, Bruyette & Woods lifted their price target on shares of Camden National from $48.00 to $50.00 and gave the company 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 research report on Wednesday, January 29th.

Camden National Stock Up 1.6 %

Camden National stock opened at $46.52 on Tuesday. The stock has a market cap of $678.12 million, a price-to-earnings ratio of 12.85 and a beta of 0.77. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $44.31 and its two-hundred day moving average price is $42.12. 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 earnings results on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the business earned $0.85 earnings per share. On average, analysts expect that Camden National will post 4.16 EPS for the current fiscal year.

Camden National Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 15th were paid a $0.42 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.61%. Camden National’s dividend payout ratio is presently 46.41%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Creative Planning lifted its stake in Camden National by 65.4% in the second quarter. Creative Planning now owns 20,927 shares of the financial services provider’s stock valued at $691,000 after buying an additional 8,274 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in Camden National in the second quarter valued at approximately $73,000. SG Americas Securities LLC lifted its stake in 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 valued at $292,000 after buying an additional 2,602 shares during the period. Coston McIsaac & Partners lifted its stake in Camden National by 18.6% in the third quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock valued at $480,000 after buying an additional 1,819 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Camden National by 194.1% in the third quarter. Assenagon Asset Management S.A. now owns 33,344 shares of the financial services provider’s stock valued at $1,378,000 after buying an additional 22,007 shares during the period. 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.