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

StockNews.com initiated coverage on shares of Camden National (NASDAQ:CAC) in a research report sent to investors on Monday. The brokerage issued a hold rating on the financial services provider’s stock.

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

Camden National Price Performance

Camden National stock opened at $45.86 on Monday. The company’s 50 day simple moving average is $44.56 and its 200-day simple moving average is $41.83. 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 1 year low of $28.62 and a 1 year high of $50.07. The company has a market capitalization of $668.64 million, a price-to-earnings ratio of 14.33 and a beta of 0.76.

Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.14. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same period last year, the business earned $0.85 EPS. As a group, equities research analysts expect that Camden National will post 3.49 earnings per share for the current year.

Camden National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.68 annualized dividend and a yield of 3.66%. Camden National’s payout ratio is 52.50%.

Institutional Investors Weigh In On Camden National

A number of hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its stake in shares of Camden National by 18,500.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 1,850 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in Camden National during the 2nd quarter worth about $73,000. Foundations Investment Advisors LLC acquired a new position in shares of Camden National during the 4th quarter worth about $280,000. SG Americas Securities LLC increased its holdings in shares of Camden National by 58.1% in 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 during the last quarter. Finally, Clark & Stuart Inc acquired a new stake in shares of Camden National during the 4th quarter worth about $434,000. 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.