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

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

A number of other brokerages have also weighed in on CAC. Stephens raised their price target on shares of Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Keefe, Bruyette & Woods lifted their target price on Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a research note on Wednesday, September 11th.

Camden National Trading Down 1.0 %

CAC stock opened at $47.84 on Friday. The business has a fifty day moving average price of $42.91 and a 200 day moving average price of $38.08. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick 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 capitalization of $697.36 million, a price-to-earnings ratio of 14.95 and a beta of 0.72.

Camden National (NASDAQ:CAC) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) 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 analysts’ expectations of $43.90 million. During the same period in the previous year, the business posted $0.96 earnings per share. Analysts expect that Camden National will post 3.45 EPS for the current fiscal year.

Camden National Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Tuesday, October 15th. Camden National’s dividend payout ratio (DPR) is 52.50%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CAC. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Camden National in the 2nd quarter valued at approximately $73,000. SG Americas Securities LLC increased its stake in 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 in the last quarter. Inspire Investing LLC acquired a new stake in Camden National in the second quarter worth $349,000. US Bancorp DE boosted its position in shares of Camden National by 2.9% during the third 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 grew its holdings in shares of Camden National by 18.6% in the 3rd 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. 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.