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

StockNews.com started coverage on shares of Camden National (NASDAQ:CAC) in a report released on Sunday. The brokerage issued a hold rating on the financial services provider’s stock.

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

Camden National Stock Down 0.5 %

Shares of NASDAQ CAC opened at $47.58 on Friday. Camden National has a 52-week low of $28.62 and a 52-week high of $50.07. The business’s 50 day moving average is $43.06 and its two-hundred day moving average is $38.14. The firm has a market cap of $693.72 million, a price-to-earnings ratio of 14.87 and a beta of 0.72. 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 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. The company had revenue of $75.13 million during the quarter, compared to analysts’ expectations of $43.90 million. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same period last year, the business posted $0.96 EPS. Research analysts predict that Camden National will post 3.45 EPS for the current year.

Camden National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.68 dividend on an annualized basis and a yield of 3.53%. Camden National’s dividend payout ratio is currently 52.50%.

Hedge Funds Weigh In On Camden National

A number of institutional investors and hedge funds have recently modified their holdings of CAC. Dimensional Fund Advisors LP increased its stake in Camden National by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock valued at $27,605,000 after purchasing an additional 26,450 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Camden National by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock valued at $14,236,000 after buying an additional 4,067 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Camden National by 1.3% in the 2nd quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock valued at $9,313,000 after buying an additional 3,600 shares during the last quarter. LSV Asset Management raised its stake in Camden National by 8.4% during the 2nd quarter. LSV Asset Management now owns 238,595 shares of the financial services provider’s stock worth $7,874,000 after acquiring an additional 18,517 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Camden National by 11.1% in the second quarter. American Century Companies Inc. now owns 182,690 shares of the financial services provider’s stock valued at $6,029,000 after acquiring an additional 18,294 shares during the last quarter. Institutional investors and hedge funds 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.