Camden National (NASDAQ:CAC) Upgraded at Raymond James

Raymond James upgraded shares of Camden National (NASDAQ:CAC) from a market perform rating to an outperform rating in a research report released on Friday, Marketbeat Ratings reports. The firm currently has $50.00 target price on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the stock. StockNews.com began coverage on shares of Camden National in a research note on Wednesday, December 18th. They set a “hold” rating for the company. Keefe, Bruyette & Woods lifted their target price on Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Camden National Stock Performance

Shares of NASDAQ CAC opened at $43.42 on Friday. The business’s 50-day simple moving average is $45.07 and its 200-day simple moving average is $39.78. 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 52 week low of $28.62 and a 52 week high of $50.07. The firm has a market cap of $632.93 million, a price-to-earnings ratio of 13.57 and a beta of 0.75.

Camden National (NASDAQ:CAC) last posted its 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. The business had revenue of $75.13 million for the quarter, compared to analyst estimates of $43.90 million. Camden National had a net margin of 16.47% and a return on equity of 9.95%. During the same period last year, the business posted $0.96 EPS. As a group, equities research analysts expect that Camden National will post 3.49 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 Friday, January 31st. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.68 annualized dividend and a yield of 3.87%. Camden National’s dividend payout ratio is 52.50%.

Hedge Funds Weigh In On Camden National

Several institutional investors have recently bought and sold shares of CAC. Northwestern Mutual Wealth Management Co. bought a new position in shares of Camden National in the second quarter worth about $73,000. 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 in the last quarter. Inspire Investing LLC bought a new position in Camden National in the 2nd quarter worth approximately $349,000. US Bancorp DE lifted its holdings in Camden National by 2.9% during the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock worth $461,000 after buying an additional 319 shares in the last quarter. Finally, Coston McIsaac & Partners boosted its position in 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 last quarter. Institutional investors 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.