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

StockNews.com assumed coverage on shares of Camden National (NASDAQ:CAC - Free Report) in a report released on Tuesday morning. The firm issued a hold rating on the financial services provider's stock.

Several other equities research analysts have also recently issued reports on CAC. Keefe, Bruyette & Woods lifted their target price on Camden National from $48.00 to $50.00 and gave the stock a "market perform" rating in a report on Wednesday, January 29th. Raymond James reissued an "outperform" rating and issued a $53.00 target price (up from $50.00) on shares of Camden National in a report on Wednesday, January 29th.

Camden National Price Performance

CAC traded up $1.15 on Tuesday, hitting $45.56. 62,006 shares of the company's stock traded hands, compared to its average volume of 85,196. The company's 50 day simple moving average is $44.39 and its 200-day simple moving average is $42.04. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. Camden National has a one year low of $28.62 and a one year high of $50.07. The firm has a market cap of $664.26 million, a price-to-earnings ratio of 12.59 and a beta of 0.77.

Camden National (NASDAQ:CAC - Get Free Report) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.14. Camden National had a net margin of 18.02% and a return on equity of 10.38%. During the same quarter last year, the business earned $0.85 earnings per share. As a group, research analysts anticipate that Camden National will post 4.16 EPS for the current year.

Camden National Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were given a dividend of $0.42 per share. The ex-dividend date was Wednesday, January 15th. This represents a $1.68 dividend on an annualized basis and a yield of 3.69%. Camden National's dividend payout ratio (DPR) is presently 46.41%.

Hedge Funds Weigh In On Camden National

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in Camden National by 1.7% during the fourth quarter. Bank of New York Mellon Corp now owns 88,236 shares of the financial services provider's stock worth $3,771,000 after buying an additional 1,515 shares during the period. Bryn Mawr Capital Management LLC bought a new position in Camden National during the 4th quarter valued at about $6,811,000. Rhumbline Advisers lifted its stake in Camden National by 1.8% in the fourth quarter. Rhumbline Advisers now owns 23,204 shares of the financial services provider's stock worth $992,000 after purchasing an additional 415 shares during the last quarter. Legato Capital Management LLC boosted its position in shares of Camden National by 13.9% during the fourth quarter. Legato Capital Management LLC now owns 29,266 shares of the financial services provider's stock valued at $1,251,000 after buying an additional 3,581 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of Camden National by 4.8% in the fourth quarter. Empowered Funds LLC now owns 39,725 shares of the financial services provider's stock worth $1,698,000 after buying an additional 1,833 shares during the period. Hedge funds and other institutional investors own 77.41% of the company's stock.

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.