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

Equities researchers at StockNews.com started coverage on shares of Camden National (NASDAQ:CAC - Get Free Report) in a research report issued to clients and investors on Wednesday. The brokerage set a "hold" rating on the financial services provider's stock.

Separately, Keefe, Bruyette & Woods upped their price target on Camden National from $43.00 to $48.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th.

Camden National Price Performance

NASDAQ CAC traded down $2.31 during mid-day trading on Wednesday, hitting $42.65. The stock had a trading volume of 79,592 shares, compared to its average volume of 51,476. Camden National has a twelve month low of $28.62 and a twelve month high of $50.07. 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 firm's 50 day moving average is $44.99 and its 200 day moving average is $39.58. The stock has a market capitalization of $621.71 million, a price-to-earnings ratio of 13.33 and a beta of 0.75.

Camden National (NASDAQ:CAC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $43.90 million. During the same quarter last year, the business posted $0.96 EPS. Equities research analysts forecast that Camden National will post 3.49 earnings per share for the current fiscal year.

Institutional Trading of Camden National

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Camden National in the 2nd quarter worth approximately $73,000. SG Americas Securities LLC raised its stake in shares of Camden National by 58.1% in the third quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider's stock valued at $292,000 after buying an additional 2,602 shares during the period. Inspire Investing LLC purchased a new position in shares of Camden National during the 2nd quarter valued at $349,000. US Bancorp DE lifted its position in shares of 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 buying an additional 319 shares during the last quarter. Finally, Coston McIsaac & Partners grew its stake in shares of Camden National by 18.6% during the 3rd 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 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.