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

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

CAC has been the subject of several other research reports. Keefe, Bruyette & Woods raised their price target on shares of Camden National from $48.00 to $50.00 and gave the company a "market perform" rating in a research report on Wednesday, January 29th. Raymond James reaffirmed an "outperform" rating and issued a $53.00 target price (up previously from $50.00) on shares of Camden National in a research report on Wednesday, January 29th.

Camden National Price Performance

Shares of Camden National stock traded down $0.15 on Wednesday, hitting $44.57. 48,658 shares of the company traded hands, compared to its average volume of 76,146. The firm's 50-day simple moving average is $44.05 and its 200 day simple moving average is $42.38. Camden National has a 12-month low of $28.62 and a 12-month high of $50.07. 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 company has a market cap of $649.83 million, a P/E ratio of 12.31 and a beta of 0.77.

Remove Ads

Camden National (NASDAQ:CAC - Get Free Report) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 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 in the prior year, the business earned $0.85 EPS. Analysts expect that Camden National will post 4.25 earnings per share for the current fiscal year.

Camden National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were paid a $0.42 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.77%. Camden National's dividend payout ratio (DPR) is 46.41%.

Hedge Funds Weigh In On Camden National

A number of institutional investors have recently bought and sold shares of CAC. JPMorgan Chase & Co. raised its position in shares of Camden National by 53.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider's stock valued at $11,731,000 after purchasing an additional 99,097 shares during the period. Barclays PLC boosted its position in shares of Camden National by 38.9% during the 3rd quarter. Barclays PLC now owns 48,339 shares of the financial services provider's stock valued at $1,998,000 after acquiring an additional 13,542 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Camden National in the 3rd quarter worth $659,000. Creative Planning increased its stake in Camden National by 65.3% during the third quarter. Creative Planning now owns 34,590 shares of the financial services provider's stock worth $1,429,000 after acquiring an additional 13,663 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Camden National by 1.2% during 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 buying an additional 4,067 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.