Camden National (NASDAQ:CAC) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Camden National (NASDAQ:CAC) in a report released on Saturday. The brokerage set a “hold” rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on CAC. Keefe, Bruyette & Woods increased their price objective on Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a report on Wednesday, September 11th. Stephens lifted their target price on Camden National from $35.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd.

Camden National Price Performance

Shares of NASDAQ CAC opened at $40.18 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.81. The firm has a market capitalization of $586.91 million, a PE ratio of 13.35 and a beta of 0.72. Camden National has a 1-year low of $26.52 and a 1-year high of $43.44. The business’s fifty day moving average price is $38.51 and its two-hundred day moving average price is $34.21.

Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.10. Camden National had a net margin of 16.01% and a return on equity of 10.36%. The business had revenue of $72.81 million for the quarter, compared to analysts’ expectations of $41.07 million. During the same quarter last year, the company earned $0.85 EPS. On average, research analysts expect that Camden National will post 3.34 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. grew its stake in shares of Camden National by 12.3% in the 4th quarter. Franklin Resources Inc. now owns 1,236,840 shares of the financial services provider’s stock valued at $46,542,000 after purchasing an additional 135,944 shares during the period. Dimensional Fund Advisors LP grew its holdings in Camden National by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock worth $27,605,000 after acquiring an additional 26,450 shares during the period. Renaissance Technologies LLC increased its stake in shares of Camden National by 1.3% in the 2nd quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock valued at $9,313,000 after acquiring an additional 3,600 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of Camden National by 13.2% during the first quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock worth $8,027,000 after purchasing an additional 28,007 shares in the last quarter. Finally, LSV Asset Management raised its stake in Camden National by 8.4% during the 2nd quarter. LSV Asset Management now owns 238,595 shares of the financial services provider’s stock worth $7,874,000 after buying an additional 18,517 shares during the period. 77.41% of the stock is 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.