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

Investment analysts at StockNews.com began coverage on shares of Camden National (NASDAQ:CAC - Get Free Report) in a note issued to investors on Friday. The brokerage set a "hold" rating on the financial services provider's stock.

A number of other equities analysts also recently weighed in on the company. Raymond James restated an "outperform" rating and issued a $53.00 target price (up previously from $50.00) on shares of Camden National in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their price objective on Camden National from $48.00 to $50.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 29th.

Camden National Stock Down 1.0 %

Camden National stock traded down $0.45 during trading on Friday, hitting $43.53. 67,953 shares of the company were exchanged, compared to its average volume of 76,157. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. The business's 50 day moving average is $43.82 and its 200 day moving average is $42.89. Camden National has a 52 week low of $28.62 and a 52 week high of $50.07. The company has a market capitalization of $634.58 million, a P/E ratio of 12.05 and a beta of 0.77.

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Camden National (NASDAQ:CAC - Get Free Report) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the business posted $0.85 earnings per share. Analysts predict that Camden National will post 4.25 earnings per share for the current year.

Institutional Investors Weigh In On Camden National

Hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. grew its position in shares of Camden National by 194.1% in the third quarter. Assenagon Asset Management S.A. now owns 33,344 shares of the financial services provider's stock valued at $1,378,000 after purchasing an additional 22,007 shares in the last quarter. HM Payson & Co. grew its holdings in Camden National by 51.1% during the 3rd quarter. HM Payson & Co. now owns 17,158 shares of the financial services provider's stock valued at $709,000 after buying an additional 5,803 shares in the last quarter. US Bancorp DE grew 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 buying an additional 319 shares in the last quarter. Apollon Wealth Management LLC increased 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 valued at $1,258,000 after buying an additional 900 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of Camden National by 5.2% in the third quarter. Empowered Funds LLC now owns 37,892 shares of the financial services provider's stock worth $1,566,000 after buying an additional 1,876 shares in the last quarter. 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.