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

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

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

Camden National Stock Performance

Camden National stock opened at $46.39 on Friday. The firm’s 50 day simple moving average is $41.84 and its 200 day simple moving average is $37.44. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. Camden National has a 1-year low of $28.62 and a 1-year high of $50.07. The firm has a market capitalization of $676.37 million, a PE ratio of 14.48 and a beta of 0.72.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. Camden National had a return on equity of 9.95% and a net margin of 16.47%. The company had revenue of $75.13 million for the quarter, compared to the consensus estimate of $43.90 million. During the same quarter last year, the business posted $0.96 earnings per share. As a group, analysts expect that Camden National will post 3.45 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.62%. Camden National’s dividend payout ratio is 52.50%.

Institutional Investors Weigh In On Camden National

A number of hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Camden National in the 2nd quarter valued at about $73,000. BNP Paribas Financial Markets increased its stake in Camden National by 89.3% in the 1st quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 3,330 shares during the period. SG Americas Securities LLC lifted its position in Camden National by 58.1% in the third quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 2,602 shares during the last quarter. Inspire Investing LLC purchased a new stake in shares of Camden National during the second quarter valued at approximately $349,000. Finally, US Bancorp DE grew its holdings in shares of Camden National by 2.9% in 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 during the last quarter. 77.41% of the stock is currently owned by institutional investors.

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.