Camden National (NASDAQ:CAC) Receives New Coverage from Analysts at StockNews.com

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

Other equities analysts also recently issued reports about the company. Keefe, Bruyette & Woods boosted their price objective on Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 11th. Stephens boosted their price target on Camden National from $35.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd.

Camden National Price Performance

Shares of CAC opened at $42.72 on Tuesday. 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 company has a market cap of $624.01 million, a P/E ratio of 14.19 and a beta of 0.72. Camden National has a 12 month low of $26.52 and a 12 month high of $43.50. The stock has a fifty day moving average price of $39.07 and a 200 day moving average price of $35.19.

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. The business had revenue of $72.81 million for the quarter, compared to analysts’ expectations of $41.07 million. Camden National had a net margin of 16.01% and a return on equity of 10.36%. During the same quarter last year, the company earned $0.85 EPS. On average, research analysts forecast that Camden National will post 3.34 earnings per share for the current year.

Institutional Investors Weigh In On Camden National

Institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. acquired a new stake in Camden National in the 2nd quarter valued at about $73,000. BNP Paribas Financial Markets raised its holdings in shares of Camden National by 89.3% in the 1st quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 3,330 shares in the last quarter. SG Americas Securities LLC lifted its stake in Camden National by 58.1% during the third 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 during the last quarter. Inspire Investing LLC bought a new stake in Camden National during the second quarter worth approximately $349,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Camden National by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,271 shares of the financial services provider’s stock worth $546,000 after acquiring an additional 4,907 shares in the last quarter. 77.41% of the stock is currently owned by institutional investors and hedge funds.

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.