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

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

CAC has been the subject of a number of other reports. Keefe, Bruyette & Woods lifted their price objective on shares of Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Raymond James raised Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research note on Friday, December 20th.

Camden National Trading Up 0.9 %

Shares of CAC opened at $43.36 on Thursday. Camden National has a fifty-two week low of $28.62 and a fifty-two week high of $50.07. The business has a 50-day moving average of $45.12 and a 200 day moving average of $39.95. The firm has a market cap of $632.06 million, a P/E ratio of 13.55 and a beta of 0.75. 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 (NASDAQ:CAC) last released its quarterly earnings data 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. Camden National had a return on equity of 9.95% and a net margin of 16.47%. The company had revenue of $75.13 million for the quarter, compared to analyst estimates of $43.90 million. During the same period in the previous year, the company posted $0.96 EPS. As a group, research analysts forecast that Camden National will post 3.49 EPS for the current year.

Camden National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend is Wednesday, January 15th. Camden National’s dividend payout ratio (DPR) is presently 52.50%.

Institutional Trading of Camden National

A number of large investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. bought a new stake in Camden National in the 2nd quarter worth approximately $73,000. SG Americas Securities LLC increased its stake in Camden National by 58.1% during the 3rd 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 purchased a new position in shares of Camden National in the second quarter worth about $349,000. US Bancorp DE boosted its holdings in Camden National by 2.9% in the third quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock valued at $461,000 after purchasing an additional 319 shares during the last quarter. Finally, Coston McIsaac & Partners boosted its holdings in 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 currently owned by institutional investors.

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.