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

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

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

Camden National Stock Down 0.2 %

Shares of NASDAQ CAC opened at $46.39 on Friday. 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 has a 52 week low of $28.62 and a 52 week high of $50.07. The stock has a market capitalization of $676.37 million, a P/E ratio of 14.48 and a beta of 0.72. The stock’s fifty day moving average is $41.84 and its 200 day moving average is $37.44.

Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.11. Camden National had a return on equity of 9.95% and a net margin of 16.47%. The business had revenue of $75.13 million during the quarter, compared to analyst estimates of $43.90 million. During the same period last year, the company earned $0.96 EPS. Sell-side analysts forecast that Camden National will post 3.45 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.62%. The ex-dividend date was Tuesday, October 15th. Camden National’s dividend payout ratio is 52.50%.

Institutional Trading of Camden National

A number of large investors have recently bought and sold shares of CAC. Rhumbline Advisers raised its position in shares of Camden National by 1.4% in the second quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock valued at $762,000 after purchasing an additional 319 shares during the period. US Bancorp DE raised its holdings in Camden National by 2.9% during the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock valued at $461,000 after acquiring an additional 319 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Camden National by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock valued at $4,876,000 after acquiring an additional 674 shares during the period. Apollon Wealth Management LLC lifted its position in shares of Camden National by 3.0% during the third quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider’s stock worth $1,258,000 after acquiring an additional 900 shares in the last quarter. Finally, Coston McIsaac & Partners boosted its holdings in shares of Camden National by 18.6% in the third quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock worth $480,000 after acquiring an additional 1,819 shares during the period. 77.41% of the stock is owned by hedge funds and other institutional investors.

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.