StockNews.com Begins Coverage on Camden National (NASDAQ:CAC)

Investment analysts at StockNews.com began coverage on shares of Camden National (NASDAQ:CAC) in a research note issued on Saturday. The firm set a “hold” rating on the financial services provider’s stock.

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

Camden National Trading Down 0.6 %

Shares of Camden National stock opened at $41.47 on Friday. The company has a fifty day moving average of $43.75 and a 200 day moving average of $42.98. The company has a market capitalization of $604.51 million, a P/E ratio of 11.46 and a beta of 0.77. Camden National has a fifty-two week low of $28.62 and a fifty-two week high of $50.07. 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 announced 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 quarter last year, the firm earned $0.85 earnings per share. On average, sell-side analysts anticipate that Camden National will post 4.25 earnings per share for the current fiscal year.

Institutional Trading of Camden National

A number of hedge funds have recently bought and sold shares of CAC. JPMorgan Chase & Co. raised its position in shares of Camden National by 53.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock worth $11,731,000 after acquiring an additional 99,097 shares in the last quarter. Barclays PLC lifted its position in shares of Camden National by 38.9% during the third quarter. Barclays PLC now owns 48,339 shares of the financial services provider’s stock valued at $1,998,000 after buying an additional 13,542 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Camden National during the third quarter valued at about $659,000. Geode Capital Management LLC grew its position in shares of Camden National by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock worth $14,236,000 after buying an additional 4,067 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Camden National during the 3rd quarter worth approximately $1,729,000. 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.