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

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

CAC has been the topic of a number of other research reports. Keefe, Bruyette & Woods boosted their price objective on shares of Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, January 29th. Raymond James reissued an “outperform” rating and set a $53.00 price objective (up previously from $50.00) on shares of Camden National in a report on Wednesday, January 29th.

Camden National Stock Performance

NASDAQ:CAC opened at $46.52 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $678.12 million, a P/E ratio of 12.85 and a beta of 0.77. The company has a 50 day moving average price of $44.31 and a 200 day moving average price of $42.12. Camden National has a fifty-two week low of $28.62 and a fifty-two week high of $50.07.

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, beating the consensus estimate 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 period in the previous year, the firm posted $0.85 earnings per share. Equities research analysts forecast that Camden National will post 4.16 EPS for the current year.

Camden National Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were paid a $0.42 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.61%. Camden National’s dividend payout ratio (DPR) is presently 46.41%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in Camden National during the 4th quarter valued at $210,000. Charles Schwab Investment Management Inc. lifted its position in shares of Camden National by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 118,716 shares of the financial services provider’s stock worth $5,074,000 after buying an additional 721 shares during the last quarter. US Bancorp DE lifted its position in shares of Camden National by 2.8% in the 4th quarter. US Bancorp DE now owns 11,474 shares of the financial services provider’s stock worth $490,000 after buying an additional 308 shares during the last quarter. Bryn Mawr Capital Management LLC bought a new position in shares of Camden National in the 4th quarter worth about $247,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Camden National by 1.7% in the 4th quarter. Bank of New York Mellon Corp now owns 88,236 shares of the financial services provider’s stock worth $3,771,000 after buying an additional 1,515 shares during the last quarter. 77.41% of the stock is currently 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.