StockNews.com Begins Coverage on Camden National (NASDAQ:CAC)

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

A number of other research firms have also weighed in on CAC. Raymond James reiterated an "outperform" rating and set a $53.00 price objective (up previously from $50.00) on shares of Camden National in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods increased their price target on shares of Camden National from $48.00 to $50.00 and gave the stock a "market perform" rating in a report on Wednesday, January 29th.

Camden National Stock Performance

Shares of CAC traded down $0.08 during mid-day trading on Wednesday, hitting $36.44. 140,519 shares of the company traded hands, compared to its average volume of 64,636. Camden National has a 1 year low of $28.62 and a 1 year high of $50.07. The stock has a market cap of $614.56 million, a price-to-earnings ratio of 10.07 and a beta of 0.61. 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 50-day moving average price of $41.68 and a two-hundred day moving average price of $43.13.

Camden National (NASDAQ:CAC - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the business earned $0.85 EPS. Equities analysts anticipate that Camden National will post 4.25 earnings per share for the current year.

Institutional Trading of Camden National

Several large investors have recently added to or reduced their stakes in the stock. Bryn Mawr Capital Management LLC acquired a new stake in shares of Camden National in the 4th quarter worth about $6,811,000. 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 buying an additional 99,097 shares during the last quarter. Davis R M Inc. acquired a new position in shares of Camden National during the fourth quarter worth approximately $4,059,000. Franklin Resources Inc. grew its holdings in Camden National by 7.4% in the 4th quarter. Franklin Resources Inc. now owns 1,311,526 shares of the financial services provider's stock worth $56,055,000 after buying an additional 90,485 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Camden National during the 4th quarter valued at $1,727,000. 77.41% of the stock is currently owned by institutional investors and hedge funds.

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.