StockNews.com Initiates Coverage on Camden National (NASDAQ:CAC)

Equities researchers at StockNews.com started coverage on shares of Camden National (NASDAQ:CAC) in a report issued on Wednesday. The brokerage set a “hold” rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods boosted their price target on Camden National from $43.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Camden National Stock Down 0.8 %

CAC opened at $42.29 on Wednesday. The stock has a market capitalization of $616.46 million, a price-to-earnings ratio of 13.22 and a beta of 0.75. The firm has a 50 day moving average price of $45.03 and a 200-day moving average price of $39.59. Camden National has a twelve month low of $28.62 and a twelve month high of $50.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08.

Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. The business had revenue of $75.13 million during the quarter, compared to analyst estimates of $43.90 million. Camden National had a net margin of 16.47% and a return on equity of 9.95%. During the same period in the previous year, the business earned $0.96 EPS. Equities research analysts forecast that Camden National will post 3.49 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. bought a new position in shares of Camden National in the second quarter worth approximately $73,000. SG Americas Securities LLC boosted its stake in shares of 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 worth $292,000 after acquiring an additional 2,602 shares during the period. Inspire Investing LLC purchased a new stake in shares of Camden National during the second quarter worth about $349,000. US Bancorp DE raised its stake in Camden National by 2.9% during the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock valued at $461,000 after purchasing an additional 319 shares during the period. Finally, Coston McIsaac & Partners lifted its holdings in Camden National by 18.6% in the 3rd 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 in 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.