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

Equities research analysts at StockNews.com assumed coverage on shares of Camden National (NASDAQ:CAC) in a note issued to investors on Saturday. The brokerage set a “hold” rating on the financial services provider’s stock.

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

Camden National Trading Down 2.1 %

Shares of Camden National stock opened at $40.18 on Friday. The stock has a market cap of $586.91 million, a P/E ratio of 13.35 and a beta of 0.72. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.09. Camden National has a 12-month low of $26.52 and a 12-month high of $43.44. The business’s 50 day moving average is $38.51 and its 200-day moving average is $34.21.

Camden National (NASDAQ:CAC) last posted 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 analyst estimates of $41.07 million. Camden National had a net margin of 16.01% and a return on equity of 10.36%. During the same period in the prior year, the firm posted $0.85 earnings per share. Equities research analysts predict that Camden National will post 3.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Camden National

Several hedge funds and other institutional investors have recently modified their holdings of CAC. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Camden National in the second quarter valued at approximately $73,000. BNP Paribas Financial Markets raised its stake in shares of Camden National by 89.3% in the first 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 last quarter. Trexquant Investment LP bought a new position in shares of Camden National in the fourth quarter valued at approximately $294,000. Inspire Investing LLC purchased a new stake in Camden National in the 2nd quarter valued at $349,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Camden National by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,271 shares of the financial services provider’s stock valued at $546,000 after purchasing an additional 4,907 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.