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

Research analysts at StockNews.com began coverage on shares of Camden National (NASDAQ:CAC) in a report released on Monday. The brokerage set a “hold” rating on the financial services provider’s stock.

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

Camden National Stock Up 2.2 %

CAC opened at $45.43 on Monday. The stock’s fifty day moving average is $44.56 and its 200-day moving average is $41.83. Camden National has a one year low of $28.62 and a one year high of $50.07. The company has a market capitalization of $662.37 million, a PE ratio of 14.20 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.89 by $0.14. 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 firm earned $0.85 EPS. On average, equities analysts predict that Camden National will post 3.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in Camden National by 53.6% during the third quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock worth $11,731,000 after purchasing an additional 99,097 shares during the period. Barclays PLC lifted its stake in shares of Camden National by 38.9% in the third quarter. Barclays PLC now owns 48,339 shares of the financial services provider’s stock worth $1,998,000 after buying an additional 13,542 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Camden National during the 3rd quarter worth $659,000. Kimelman & Baird LLC acquired a new position in Camden National in the 2nd quarter valued at $4,943,000. Finally, Creative Planning grew its stake in Camden National by 65.3% in the 3rd quarter. Creative Planning now owns 34,590 shares of the financial services provider’s stock valued at $1,429,000 after buying an additional 13,663 shares during the last quarter. Institutional investors 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.