Camden National (NASDAQ:CAC) Now Covered by Analysts at StockNews.com

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

Separately, Keefe, Bruyette & Woods increased their price target on shares of Camden National from $43.00 to $48.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Camden National Stock Performance

NASDAQ CAC opened at $46.57 on Tuesday. The business has a 50 day moving average price of $44.28 and a 200 day moving average price of $39.07. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $678.99 million, a P/E ratio of 14.55 and a beta of 0.75. Camden National has a 1-year low of $28.62 and a 1-year high of $50.07.

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, topping the consensus estimate of $0.83 by $0.11. The business had revenue of $75.13 million during the quarter, compared to the consensus estimate of $43.90 million. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same quarter in the previous year, the company posted $0.96 EPS. Sell-side analysts expect that Camden National will post 3.49 EPS for the current fiscal year.

Camden National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Tuesday, October 15th. Camden National’s dividend payout ratio is presently 52.50%.

Hedge Funds Weigh In On Camden National

Institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in shares of Camden National by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,271 shares of the financial services provider’s stock valued at $546,000 after purchasing an additional 4,907 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Camden National by 4.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 90,944 shares of the financial services provider’s stock worth $3,001,000 after acquiring an additional 3,937 shares during the period. Signaturefd LLC boosted its position in shares of Camden National by 30.9% in the second quarter. Signaturefd LLC now owns 50,491 shares of the financial services provider’s stock worth $1,666,000 after acquiring an additional 11,924 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in Camden National in the second quarter valued at approximately $757,000. Finally, Rhumbline Advisers increased its position in Camden National by 1.4% during the second quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock worth $762,000 after purchasing an additional 319 shares during the last quarter. 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.