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

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

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

Camden National Trading Up 1.3 %

CAC opened at $42.72 on Tuesday. The firm’s 50 day moving average is $39.07 and its 200-day moving average is $35.19. Camden National has a 52-week low of $26.52 and a 52-week high of $43.50. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $624.01 million, a P/E ratio of 14.19 and a beta of 0.72.

Camden National (NASDAQ:CAC) last released its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.10. The firm had revenue of $72.81 million for the quarter, compared to the consensus estimate of $41.07 million. Camden National had a net margin of 16.01% and a return on equity of 10.36%. During the same quarter in the previous year, the firm posted $0.85 EPS. Analysts expect that Camden National will post 3.34 EPS for the current fiscal year.

Institutional Trading of Camden National

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position 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 worth $27,605,000 after acquiring an additional 26,450 shares in the last quarter. Renaissance Technologies LLC boosted its holdings 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 worth $9,313,000 after purchasing an additional 3,600 shares during the period. ProShare Advisors LLC increased its stake in Camden National by 13.2% during the first quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock valued at $8,027,000 after purchasing an additional 28,007 shares during the last quarter. LSV Asset Management increased its stake in Camden National by 8.4% during the second quarter. LSV Asset Management now owns 238,595 shares of the financial services provider’s stock valued at $7,874,000 after purchasing an additional 18,517 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Camden National by 11.1% during the second quarter. American Century Companies Inc. now owns 182,690 shares of the financial services provider’s stock worth $6,029,000 after purchasing an additional 18,294 shares during the period. 77.41% of the stock is owned by institutional investors.

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.