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

StockNews.com started coverage on shares of Camden National (NASDAQ:CAC - Get Free Report) in a report issued on Sunday. The firm set a "hold" rating on the financial services provider's stock.

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

Camden National Stock Up 0.4 %

Shares of CAC stock traded up $0.16 during mid-day trading on Friday, hitting $44.05. The company's stock had a trading volume of 80,812 shares, compared to its average volume of 63,930. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. Camden National has a 52-week low of $28.62 and a 52-week high of $50.07. The stock has a market cap of $642.25 million, a price-to-earnings ratio of 13.77 and a beta of 0.76. The business has a 50-day moving average price of $45.05 and a 200 day moving average price of $41.23.

Camden National (NASDAQ:CAC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $75.13 million for the quarter, compared to the consensus estimate of $43.90 million. During the same quarter last year, the firm posted $0.96 EPS. Research analysts predict that Camden National will post 3.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Camden National

Large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Camden National by 18,500.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider's stock worth $79,000 after buying an additional 1,850 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in Camden National in the 2nd quarter worth $73,000. SG Americas Securities LLC boosted its holdings in shares of Camden National by 58.1% during the 3rd quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider's stock valued at $292,000 after purchasing an additional 2,602 shares during the last quarter. Clark & Stuart Inc purchased a new position in shares of Camden National during the fourth quarter valued at about $434,000. Finally, Inspire Investing LLC bought a new stake in shares of Camden National in the second quarter worth about $349,000. 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.