Camden National (NASDAQ:CAC) Research Coverage Started at StockNews.com

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

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

Camden National Price Performance

Shares of NASDAQ CAC opened at $42.08 on Thursday. The company has a fifty day moving average price of $40.12 and a 200 day moving average price of $36.12. Camden National has a 1-year low of $28.62 and a 1-year high of $43.75. The firm has a market cap of $613.11 million, a PE ratio of 13.15 and a beta of 0.72. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. Camden National had a return on equity of 10.09% and a net margin of 16.47%. The business had revenue of $75.13 million during the quarter, compared to the consensus estimate of $43.90 million. During the same period last year, the company earned $0.96 earnings per share. Research analysts predict that Camden National will post 3.42 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.68 dividend on an annualized basis and a yield of 3.99%. Camden National’s payout ratio is 52.50%.

Institutional Trading of Camden National

Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Camden National by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock valued at $27,605,000 after purchasing an additional 26,450 shares during the period. Renaissance Technologies LLC raised its stake in Camden National by 1.3% in the second quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock valued at $9,313,000 after buying an additional 3,600 shares during the period. ProShare Advisors LLC lifted its position in shares of Camden National by 13.2% in the first quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock valued at $8,027,000 after buying an additional 28,007 shares during the last quarter. LSV Asset Management boosted its stake in shares of Camden National by 8.4% during the 2nd quarter. LSV Asset Management now owns 238,595 shares of the financial services provider’s stock worth $7,874,000 after acquiring an additional 18,517 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Camden National by 11.1% during the 2nd quarter. American Century Companies Inc. now owns 182,690 shares of the financial services provider’s stock worth $6,029,000 after acquiring an additional 18,294 shares during the last quarter. Institutional investors and hedge funds own 77.41% of the company’s stock.

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.