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

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

A number of other research firms have also recently issued reports on CAC. Keefe, Bruyette & Woods lifted their price target on shares of Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a research note on Wednesday, September 11th. Stephens upped their price target on shares of 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

NASDAQ:CAC opened at $47.58 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. The company has a 50 day moving average price of $43.06 and a 200-day moving average price of $38.14. Camden National has a 1-year low of $28.62 and a 1-year high of $50.07. The firm has a market cap of $693.72 million, a price-to-earnings ratio of 14.87 and a beta of 0.72.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. Camden National had a net margin of 16.47% and a return on equity of 9.95%. The business had revenue of $75.13 million during the quarter, compared to the consensus estimate of $43.90 million. During the same quarter in the prior year, the firm posted $0.96 earnings per share. Equities research analysts forecast that Camden National will post 3.45 EPS for the current year.

Camden National Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were issued a $0.42 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $1.68 dividend on an annualized basis and a yield of 3.53%. Camden National’s payout ratio is currently 52.50%.

Institutional Investors Weigh In On Camden National

Large investors have recently modified their holdings of the business. Rhumbline Advisers increased its stake in shares of Camden National by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock worth $762,000 after acquiring an additional 319 shares during the last quarter. US Bancorp DE increased its position in Camden National by 2.9% during the third quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 319 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Camden National by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock worth $4,876,000 after purchasing an additional 674 shares during the period. Apollon Wealth Management LLC raised its stake in 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 purchasing an additional 900 shares during the period. Finally, Coston McIsaac & Partners boosted its holdings in Camden National by 18.6% in the 3rd quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock valued at $480,000 after purchasing an additional 1,819 shares during the last quarter. 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.