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

StockNews.com began coverage on shares of Camden National (NASDAQ:CAC) in a research note issued to investors on Wednesday. The firm issued a hold rating on the financial services provider’s stock.

CAC has been the topic of several 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 research note on Wednesday, January 29th. Raymond James reissued an “outperform” rating and issued a $53.00 price target (up from $50.00) on shares of Camden National in a research report on Wednesday, January 29th.

Camden National Trading Down 2.5 %

NASDAQ:CAC opened at $44.41 on Wednesday. The company has a 50-day moving average price of $44.19 and a 200-day moving average price of $42.32. The stock has a market cap of $647.50 million, a price-to-earnings ratio of 12.27 and a beta of 0.77. 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 12 month low of $28.62 and a 12 month high of $50.07.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, topping 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 last year, the firm earned $0.85 earnings per share. Equities analysts predict that Camden National will post 4.25 EPS for the current year.

Camden National Announces Dividend

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 of this dividend was Wednesday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.78%. Camden National’s dividend payout ratio is presently 46.41%.

Institutional Investors Weigh In On Camden National

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its position in Camden National by 18,500.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock worth $79,000 after buying an additional 1,850 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Camden National in the fourth quarter worth approximately $103,000. Quantbot Technologies LP purchased a new position in shares of Camden National during the fourth quarter valued at approximately $106,000. AlphaQuest LLC lifted its position in Camden National by 2,615.3% during the fourth quarter. AlphaQuest LLC now owns 4,263 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 4,106 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Camden National in the fourth quarter worth approximately $210,000. 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.