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

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

Separately, Keefe, Bruyette & Woods increased their price objective on shares of Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a report on Wednesday, September 11th.

Camden National Price Performance

Shares of NASDAQ CAC opened at $47.20 on Monday. Camden National has a fifty-two week low of $28.62 and a fifty-two week high of $50.07. The company has a market cap of $688.18 million, a PE ratio of 14.75 and a beta of 0.72. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The business has a 50-day simple moving average of $43.49 and a two-hundred day simple moving average of $38.48.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data 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. The business had revenue of $75.13 million for the quarter, compared to analyst estimates of $43.90 million. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same period in the prior year, the company earned $0.96 earnings per share. As a group, equities analysts expect that Camden National will post 3.45 EPS for the current fiscal year.

Camden National Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.56%. Camden National’s dividend payout ratio is currently 52.50%.

Hedge Funds Weigh In On Camden National

Several large investors have recently modified their holdings of CAC. Geode Capital Management LLC lifted its holdings in shares of Camden National by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock worth $14,236,000 after acquiring an additional 4,067 shares during the last quarter. Barclays PLC raised its position in Camden National by 38.9% in the third quarter. Barclays PLC now owns 48,339 shares of the financial services provider’s stock valued at $1,998,000 after purchasing an additional 13,542 shares during the period. Dean Investment Associates LLC raised its position in Camden National by 36.8% in the third quarter. Dean Investment Associates LLC now owns 65,557 shares of the financial services provider’s stock valued at $2,709,000 after purchasing an additional 17,632 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Camden National by 15.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,778 shares of the financial services provider’s stock worth $1,148,000 after purchasing an additional 3,682 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Camden National by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock worth $4,876,000 after buying an additional 674 shares during the period. Institutional investors and hedge funds 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.