Camden National (NASDAQ:CAC) Coverage Initiated by Analysts at StockNews.com

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

Other analysts have also issued research reports about the company. Raymond James reissued an “outperform” rating and set a $53.00 price target (up previously from $50.00) on shares of Camden National in a report on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their price objective on Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th.

Camden National Price Performance

Shares of NASDAQ:CAC opened at $44.41 on Wednesday. The firm’s 50 day moving average price is $44.19 and its 200-day moving average price is $42.32. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $647.50 million, a PE ratio of 12.27 and a beta of 0.77. Camden National has a twelve month low of $28.62 and a twelve month high of $50.07.

Camden National (NASDAQ:CAC) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share 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 prior year, the firm earned $0.85 EPS. Equities research analysts expect that Camden National will post 4.25 EPS for the current year.

Camden National Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were issued a dividend of $0.42 per share. The ex-dividend date was Wednesday, January 15th. This represents a $1.68 dividend on an annualized basis and a yield of 3.78%. Camden National’s dividend payout ratio is presently 46.41%.

Hedge Funds Weigh In On Camden National

A number of hedge funds have recently made changes to their positions in the business. LPL Financial LLC increased its holdings in Camden National by 3.8% in the 4th quarter. LPL Financial LLC now owns 6,982 shares of the financial services provider’s stock valued at $298,000 after acquiring an additional 257 shares during the last quarter. US Bancorp DE grew its position in shares of Camden National by 2.8% during the fourth quarter. US Bancorp DE now owns 11,474 shares of the financial services provider’s stock valued at $490,000 after purchasing an additional 308 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Camden National by 1.8% in the fourth quarter. Rhumbline Advisers now owns 23,204 shares of the financial services provider’s stock worth $992,000 after purchasing an additional 415 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Camden National by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock worth $4,876,000 after buying an additional 674 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its stake in Camden National by 3.0% during the third quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider’s stock valued at $1,258,000 after buying an additional 900 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.