Camden National (NASDAQ:CAC) Rating Increased to Outperform at Raymond James

Raymond James upgraded shares of Camden National (NASDAQ:CAC) from a market perform rating to an outperform rating in a report released on Friday morning, MarketBeat.com reports. Raymond James currently has $50.00 target price on the financial services provider’s stock.

A number of other equities analysts have also issued reports on CAC. StockNews.com started coverage on Camden National in a research note on Wednesday. They issued a “hold” rating for the company. Keefe, Bruyette & Woods raised their price objective on Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Camden National Trading Up 2.7 %

Shares of NASDAQ CAC opened at $43.42 on Friday. Camden National has a 1-year low of $28.62 and a 1-year high of $50.07. The business has a fifty day moving average price of $45.07 and a 200 day moving average price of $39.67. The stock has a market capitalization of $632.93 million, a P/E ratio of 13.57 and a beta of 0.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82.

Camden National (NASDAQ:CAC) last posted 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 net margin of 16.47% and a return on equity of 9.95%. During the same quarter in the prior year, the company posted $0.96 earnings per share. Equities research analysts expect that Camden National will post 3.49 EPS for the current fiscal year.

Camden National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Wednesday, January 15th. Camden National’s payout ratio is 52.50%.

Institutional Trading of Camden National

Several institutional investors have recently modified their holdings of CAC. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Camden National during the second quarter worth approximately $73,000. SG Americas Securities LLC grew its stake in Camden National by 58.1% during the 3rd quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock valued at $292,000 after acquiring an additional 2,602 shares in the last quarter. Inspire Investing LLC acquired a new stake in Camden National in the 2nd quarter valued at about $349,000. US Bancorp DE lifted its stake in Camden National by 2.9% in the 3rd 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 in the last quarter. Finally, Coston McIsaac & Partners grew its position in shares of Camden National by 18.6% in the third quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock valued at $480,000 after purchasing an additional 1,819 shares in the last quarter. Institutional investors and hedge funds own 77.41% of the company’s stock.

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.