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

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

Other equities analysts have also recently issued reports about the company. Raymond James reiterated an “outperform” rating and issued a $53.00 price target (up from $50.00) on shares of Camden National in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods raised their target price on Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th.

Camden National Price Performance

NASDAQ CAC opened at $43.98 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. The company has a market cap of $641.10 million, a PE ratio of 12.15 and a beta of 0.77. Camden National has a 52 week low of $28.62 and a 52 week high of $50.07. The firm’s 50-day simple moving average is $43.82 and its two-hundred day simple moving average is $42.80.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.14. Camden National had a net margin of 18.02% and a return on equity of 10.38%. During the same quarter in the previous year, the company posted $0.85 EPS. Research analysts predict that Camden National will post 4.25 earnings per share for the current year.

Camden National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.82%. The ex-dividend date was Wednesday, January 15th. Camden National’s payout ratio is 46.41%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its position in Camden National by 194.1% during the third quarter. Assenagon Asset Management S.A. now owns 33,344 shares of the financial services provider’s stock worth $1,378,000 after buying an additional 22,007 shares in the last quarter. HM Payson & Co. boosted its position in shares of Camden National by 51.1% during the 3rd quarter. HM Payson & Co. now owns 17,158 shares of the financial services provider’s stock valued at $709,000 after acquiring an additional 5,803 shares during the last quarter. US Bancorp DE grew its holdings in shares of Camden National by 2.9% during the third quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 319 shares in the last quarter. Apollon Wealth Management LLC increased its position in shares of Camden National by 3.0% in the third quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider’s stock worth $1,258,000 after purchasing an additional 900 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in Camden National by 5.2% in the third quarter. Empowered Funds LLC now owns 37,892 shares of the financial services provider’s stock valued at $1,566,000 after purchasing an additional 1,876 shares in 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.