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

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

Several other equities research analysts have also commented on CAC. Raymond James raised shares of Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a report on Friday, December 20th. Keefe, Bruyette & Woods raised their target price on Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

Camden National Stock Performance

Shares of CAC opened at $42.13 on Friday. Camden National has a 12 month low of $28.62 and a 12 month high of $50.07. The stock has a fifty day moving average price of $45.29 and a 200-day moving average price of $40.98. 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 firm has a market cap of $614.13 million, a PE ratio of 13.17 and a beta of 0.76.

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

Camden National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.99%. Camden National’s dividend payout ratio is presently 52.50%.

Institutional Investors Weigh In On Camden National

Several hedge funds and other institutional investors have recently bought and sold shares of CAC. Rhumbline Advisers boosted its holdings in Camden National by 1.4% in the second quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock valued at $762,000 after purchasing an additional 319 shares during the period. US Bancorp DE boosted its stake in shares of Camden National by 2.9% in the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock valued at $461,000 after buying an additional 319 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Camden National by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock valued at $4,876,000 after buying an additional 674 shares during the period. Apollon Wealth Management LLC grew its position in shares of 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 worth $1,258,000 after buying an additional 900 shares in the last quarter. Finally, Coston McIsaac & Partners increased its stake in shares of Camden National by 18.6% during the third quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock worth $480,000 after buying an additional 1,819 shares during the period. 77.41% of the stock is currently 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.