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

StockNews.com assumed coverage on shares of Camden National (NASDAQ:CAC - Free Report) in a research report released on Tuesday. The brokerage issued a hold rating on the financial services provider's stock.

A number of other research analysts have also recently issued reports on the stock. Stephens increased their target price on shares of Camden National from $35.00 to $42.00 and gave the company an equal weight rating in a report on Friday, August 2nd. Keefe, Bruyette & Woods raised their price objective on Camden National from $40.00 to $41.00 and gave the company a market perform rating in a research note on Wednesday, September 11th.

Camden National Stock Performance

Shares of CAC stock traded up $1.05 during trading hours on Tuesday, reaching $42.19. 64,744 shares of the company's stock were exchanged, compared to its average volume of 50,145. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.81. Camden National has a 1 year low of $26.52 and a 1 year high of $43.44. The company has a market cap of $616.27 million, a P/E ratio of 14.05 and a beta of 0.72. The company's 50 day moving average is $38.84 and its two-hundred day moving average is $35.08.

Camden National (NASDAQ:CAC - Get Free Report) last released its earnings results on Tuesday, July 30th. The financial services provider reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.10. Camden National had a return on equity of 10.36% and a net margin of 16.01%. The company had revenue of $72.81 million during the quarter, compared to the consensus estimate of $41.07 million. During the same quarter last year, the company earned $0.85 earnings per share. Equities research analysts anticipate that Camden National will post 3.34 EPS for the current fiscal year.

Camden National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Tuesday, October 15th. Camden National's dividend payout ratio (DPR) is presently 55.81%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CAC. BNP Paribas Financial Markets increased its position in Camden National by 89.3% during the 1st quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider's stock worth $237,000 after purchasing an additional 3,330 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Camden National by 2,990.3% during the first quarter. Signaturefd LLC now owns 38,567 shares of the financial services provider's stock worth $1,293,000 after buying an additional 37,319 shares in the last quarter. Empowered Funds LLC raised its position in shares of Camden National by 7.9% in the first quarter. Empowered Funds LLC now owns 33,496 shares of the financial services provider's stock valued at $1,123,000 after buying an additional 2,450 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Camden National by 13.2% during the first quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider's stock valued at $8,027,000 after buying an additional 28,007 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Camden National by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,271 shares of the financial services provider's stock worth $546,000 after acquiring an additional 4,907 shares during the last quarter. 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.