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

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

A number of other equities research analysts have also issued reports on CAC. Raymond James raised Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Friday, December 20th. Keefe, Bruyette & Woods upped their price objective on Camden National from $43.00 to $48.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Camden National Trading Down 0.4 %

Shares of CAC opened at $42.08 on Friday. Camden National has a twelve month low of $28.62 and a twelve month high of $50.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $613.40 million, a P/E ratio of 13.15 and a beta of 0.76. The firm’s 50-day moving average is $45.31 and its two-hundred day moving average is $40.49.

Camden National (NASDAQ:CAC) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share 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 business had revenue of $75.13 million for the quarter, compared to analysts’ expectations of $43.90 million. During the same quarter in the prior year, the firm posted $0.96 EPS. On average, research analysts predict that Camden National will post 3.49 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Wednesday, January 15th. Camden National’s dividend payout ratio is currently 52.50%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. purchased a new stake in Camden National during the second quarter valued at about $73,000. SG Americas Securities LLC grew its holdings in shares of 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 worth $292,000 after purchasing an additional 2,602 shares during the period. Inspire Investing LLC purchased a new stake in shares of Camden National during the 2nd quarter worth about $349,000. US Bancorp DE increased its position in Camden National by 2.9% during 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 raised its holdings in 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 buying an additional 1,819 shares during the period. 77.41% of the stock is currently owned by hedge funds and other 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.