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

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

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

Camden National Price Performance

Shares of NASDAQ CAC opened at $44.05 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. Camden National has a fifty-two week low of $28.62 and a fifty-two week high of $50.07. The stock has a market cap of $642.12 million, a PE ratio of 13.77 and a beta of 0.76. The stock has a fifty day moving average of $44.94 and a 200-day moving average of $41.37.

Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $43.90 million. During the same quarter in the previous year, the firm earned $0.96 EPS. Equities research analysts anticipate that Camden National will post 3.49 earnings per share for the current year.

Institutional Trading of Camden National

A number of hedge funds have recently bought and sold shares of CAC. Kimelman & Baird LLC purchased a new position in shares of Camden National during the second quarter worth approximately $4,943,000. JPMorgan Chase & Co. grew its holdings in shares of Camden National by 53.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock valued at $11,731,000 after purchasing an additional 99,097 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in Camden National in the 3rd quarter worth $1,729,000. Dimensional Fund Advisors LP lifted its stake in Camden National by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock worth $27,605,000 after purchasing an additional 26,450 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Camden National by 194.1% during the third quarter. Assenagon Asset Management S.A. now owns 33,344 shares of the financial services provider’s stock valued at $1,378,000 after buying an additional 22,007 shares during the period. 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.