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

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

CAC has been the subject of several other research reports. Keefe, Bruyette & Woods raised their price target on shares of Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, January 29th. Raymond James reiterated an “outperform” rating and set a $53.00 price objective (up from $50.00) on shares of Camden National in a research report on Wednesday, January 29th.

Camden National Trading Up 2.4 %

CAC opened at $42.01 on Monday. The firm has a market capitalization of $708.50 million, a price-to-earnings ratio of 11.60 and a beta of 0.73. Camden National has a fifty-two week low of $28.62 and a fifty-two week high of $50.07. The company’s 50 day moving average price is $43.54 and its two-hundred day moving average price is $43.20. 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 (NASDAQ:CAC) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.14. Camden National had a return on equity of 10.38% and a net margin of 18.02%. During the same period last year, the firm posted $0.85 EPS. As a group, research analysts predict that Camden National will post 4.25 earnings per share for the current year.

Institutional Trading of Camden National

Several large investors have recently modified their holdings of CAC. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Camden National during the fourth quarter worth $1,727,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Camden National by 23.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,322 shares of the financial services provider’s stock worth $1,467,000 after purchasing an additional 6,544 shares in the last quarter. Rafferty Asset Management LLC grew its stake in shares of Camden National by 20.6% in the 4th quarter. Rafferty Asset Management LLC now owns 11,917 shares of the financial services provider’s stock valued at $509,000 after buying an additional 2,032 shares during the period. Occudo Quantitative Strategies LP increased its position in Camden National by 8.6% in the 4th quarter. Occudo Quantitative Strategies LP now owns 6,118 shares of the financial services provider’s stock valued at $261,000 after buying an additional 485 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Camden National by 4.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,264 shares of the financial services provider’s stock valued at $353,000 after buying an additional 330 shares in the last quarter. 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.