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

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

A number of other analysts also recently issued reports on the company. Stephens raised their price objective on 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 lifted their price target 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.

Camden National Stock Performance

NASDAQ:CAC opened at $39.62 on Friday. The company’s 50-day moving average is $38.58 and its two-hundred day moving average is $34.30. Camden National has a 1-year low of $26.52 and a 1-year high of $43.44. 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 firm has a market capitalization of $578.73 million, a price-to-earnings ratio of 13.16 and a beta of 0.72.

Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.10. Camden National had a return on equity of 10.36% and a net margin of 16.01%. The firm had revenue of $72.81 million for the quarter, compared to analysts’ expectations of $41.07 million. During the same period in the prior year, the firm posted $0.85 earnings per share. Analysts forecast that Camden National will post 3.34 EPS for the current year.

Hedge Funds Weigh In On Camden National

Several institutional investors have recently bought and sold shares of CAC. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Camden National in the second quarter worth $73,000. BNP Paribas Financial Markets grew its stake in Camden National by 89.3% during the 1st quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 3,330 shares in the last quarter. Trexquant Investment LP purchased a new stake in Camden National during the 4th quarter worth about $294,000. Inspire Investing LLC purchased a new stake in Camden National during the 2nd quarter worth about $349,000. Finally, Price T Rowe Associates Inc. MD raised its position in Camden National by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,271 shares of the financial services provider’s stock valued at $546,000 after purchasing an additional 4,907 shares in the last quarter. 77.41% of the stock is owned by institutional investors and hedge funds.

About Camden National

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.