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

StockNews.com initiated coverage on shares of Camden National (NASDAQ:CAC - Free Report) in a research note published on Thursday morning. The firm issued a hold rating on the financial services provider's stock.

Several other research firms have also commented on CAC. Keefe, Bruyette & Woods raised their target price on Camden National from $43.00 to $48.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Raymond James raised shares of Camden National from a "market perform" rating to an "outperform" rating and set a $50.00 target price for the company in a report on Friday, December 20th.

Camden National Stock Performance

CAC stock traded up $0.37 during midday trading on Thursday, reaching $43.36. The stock had a trading volume of 38,702 shares, compared to its average volume of 51,882. The firm has a fifty day simple moving average of $45.12 and a two-hundred day simple moving average of $39.95. Camden National has a 52-week low of $28.62 and a 52-week high of $50.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $632.06 million, a PE ratio of 13.55 and a beta of 0.75.

Camden National (NASDAQ:CAC - Get Free Report) last released its earnings results on Tuesday, October 29th. The financial services provider reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.11. Camden National had a return on equity of 9.95% and a net margin of 16.47%. The firm had revenue of $75.13 million during the quarter, compared to the consensus estimate of $43.90 million. During the same quarter in the previous year, the company posted $0.96 earnings per share. As a group, equities research analysts anticipate that Camden National will post 3.49 EPS for the current year.

Camden National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.87%. The ex-dividend date is Wednesday, January 15th. Camden National's payout ratio is currently 52.50%.

Institutional Investors Weigh In On Camden National

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in shares of Camden National by 53.6% during the third quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider's stock valued at $11,731,000 after acquiring an additional 99,097 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Camden National by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider's stock valued at $14,236,000 after purchasing an additional 4,067 shares in the last quarter. Barclays PLC boosted its position in Camden National by 38.9% during the third quarter. Barclays PLC now owns 48,339 shares of the financial services provider's stock worth $1,998,000 after acquiring an additional 13,542 shares during the last quarter. Dean Investment Associates LLC grew its position in shares of Camden National by 36.8% in the third quarter. Dean Investment Associates LLC now owns 65,557 shares of the financial services provider's stock valued at $2,709,000 after purchasing an additional 17,632 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Camden National by 15.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,778 shares of the financial services provider's stock worth $1,148,000 after acquiring an additional 3,682 shares during the last quarter. 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.