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

StockNews.com started coverage on shares of Camden National (NASDAQ:CAC) in a research note issued to investors on Thursday. The firm issued a hold rating on the financial services provider’s stock.

Several other research analysts also recently commented on the company. Keefe, Bruyette & Woods lifted their target price on Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th. Raymond James reaffirmed an “outperform” rating and set a $53.00 price objective (up from $50.00) on shares of Camden National in a research report on Wednesday, January 29th.

Camden National Trading Up 0.9 %

Shares of CAC stock opened at $37.74 on Thursday. The firm has a 50-day moving average price of $40.87 and a 200 day moving average price of $43.02. Camden National has a 12-month low of $30.04 and a 12-month high of $50.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $637.28 million, a P/E ratio of 10.43 and a beta of 0.61.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping 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 quarter in the prior year, the business earned $0.85 EPS. Research analysts forecast that Camden National will post 4.25 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Tuesday, April 15th. Camden National’s payout ratio is 46.41%.

Hedge Funds Weigh In On Camden National

Several institutional investors and hedge funds have recently modified their holdings of CAC. Bryn Mawr Capital Management LLC acquired a new stake in shares of Camden National in the fourth quarter valued at approximately $6,811,000. JPMorgan Chase & Co. lifted its position 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 acquiring an additional 99,097 shares during the period. Davis R M Inc. bought a new position in shares of Camden National in the fourth quarter worth $4,059,000. Franklin Resources Inc. raised its stake in Camden National by 7.4% in the fourth quarter. Franklin Resources Inc. now owns 1,311,526 shares of the financial services provider’s stock valued at $56,055,000 after purchasing an additional 90,485 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Camden National in the 4th quarter valued at about $1,727,000. 77.41% of the stock is currently owned by institutional investors and hedge funds.

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.