Camden National (NASDAQ:CAC) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Camden National (NASDAQ:CAC) in a research note released on Wednesday morning. The brokerage issued a hold rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on CAC. Keefe, Bruyette & Woods lifted their price objective on shares of Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, January 29th. Raymond James reiterated an “outperform” rating and issued a $53.00 price objective (up from $50.00) on shares of Camden National in a report on Wednesday, January 29th.

Camden National Stock Performance

Shares of CAC opened at $44.57 on Wednesday. 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 twelve month low of $28.62 and a twelve month high of $50.07. The firm’s 50 day moving average price is $44.09 and its two-hundred day moving average price is $42.35. The firm has a market cap of $649.70 million, a P/E ratio of 12.31 and a beta of 0.77.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates 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 company earned $0.85 EPS. On average, analysts forecast that Camden National will post 4.25 EPS for the current fiscal year.

Camden National Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 15th were issued a dividend of $0.42 per share. The ex-dividend date was Wednesday, January 15th. This represents a $1.68 dividend on an annualized basis and a yield of 3.77%. Camden National’s payout ratio is 46.41%.

Hedge Funds Weigh In On Camden National

A number of institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in shares of Camden National by 58.1% in the third quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 2,602 shares during the last quarter. Creative Planning increased its holdings in shares of Camden National by 65.3% in the third quarter. Creative Planning now owns 34,590 shares of the financial services provider’s stock valued at $1,429,000 after purchasing an additional 13,663 shares during the last quarter. Coston McIsaac & Partners increased its holdings 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 during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Camden National by 194.1% in 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 purchasing an additional 22,007 shares during the last quarter. Finally, HM Payson & Co. increased its holdings in shares of Camden National by 51.1% in the third quarter. HM Payson & Co. now owns 17,158 shares of the financial services provider’s stock valued at $709,000 after purchasing an additional 5,803 shares during the last quarter. 77.41% of the stock is currently owned by institutional investors and hedge funds.

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.