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

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

Several other analysts also recently weighed in on the company. Raymond James restated an “outperform” rating and issued a $53.00 price objective (up from $50.00) on shares of Camden National in a report on Wednesday, January 29th. Keefe, Bruyette & Woods raised their price objective on Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 29th.

Camden National Trading Down 0.6 %

Shares of CAC opened at $40.23 on Tuesday. 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 twelve month low of $28.62 and a twelve month high of $50.07. The company has a market cap of $678.48 million, a P/E ratio of 11.11 and a beta of 0.73. The company’s fifty day simple moving average is $43.17 and its 200-day simple moving average is $43.32.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping 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 business earned $0.85 EPS. As a group, analysts expect that Camden National will post 4.25 EPS for the current year.

Camden National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.68 annualized dividend and a yield of 4.18%. Camden National’s dividend payout ratio (DPR) is presently 46.41%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Bryn Mawr Capital Management LLC acquired a new position in Camden National in the 4th quarter worth about $6,811,000. JPMorgan Chase & Co. lifted its position in Camden National by 53.6% during the third quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock worth $11,731,000 after buying an additional 99,097 shares in the last quarter. Davis R M Inc. acquired a new position in shares of Camden National during the 4th quarter valued at about $4,059,000. Franklin Resources Inc. grew its stake in shares of Camden National by 7.4% in the 4th quarter. Franklin Resources Inc. now owns 1,311,526 shares of the financial services provider’s stock valued at $56,055,000 after buying an additional 90,485 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Camden National in the fourth quarter worth approximately $1,727,000. Hedge funds and other institutional investors 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.