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

StockNews.com assumed coverage on shares of Camden National (NASDAQ:CAC) in a research report report published on Saturday morning. The firm issued a hold rating on the financial services provider’s stock.

Several other research analysts have also weighed in on CAC. Keefe, Bruyette & Woods boosted their price objective on shares of Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Raymond James upgraded Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Friday, December 20th.

Camden National Stock Performance

Shares of CAC opened at $41.51 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. Camden National has a 12 month low of $28.62 and a 12 month high of $50.07. The firm has a fifty day simple moving average of $45.29 and a 200 day simple moving average of $40.85. The stock has a market capitalization of $605.09 million, a price-to-earnings ratio of 12.97 and a beta of 0.76.

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 the consensus estimate of $0.83 by $0.11. The company had revenue of $75.13 million during the quarter, compared to analysts’ expectations 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 last year, the company earned $0.96 EPS. Research analysts forecast that Camden National will post 3.49 EPS for the current fiscal year.

Camden National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Wednesday, January 15th. Camden National’s payout ratio is 52.50%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Rhumbline Advisers grew its position in shares of Camden National by 1.4% in the second quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock valued at $762,000 after purchasing an additional 319 shares during the last quarter. US Bancorp DE grew its holdings in Camden National by 2.9% in the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock valued at $461,000 after buying an additional 319 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Camden National by 0.6% during the 3rd 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. Apollon Wealth Management LLC lifted its holdings in shares of Camden National by 3.0% during the third quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider’s stock worth $1,258,000 after buying an additional 900 shares in the last quarter. Finally, Coston McIsaac & Partners lifted its holdings in shares of Camden National by 18.6% during the third quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock worth $480,000 after buying an additional 1,819 shares in the last quarter. 77.41% of the stock is owned by institutional investors.

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.