Camden National (NASDAQ:CAC) Receives New Coverage from Analysts at StockNews.com

Research analysts at StockNews.com initiated 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.

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

Camden National Stock Up 0.4 %

Shares of CAC stock traded up $0.16 on Wednesday, hitting $41.19. The stock had a trading volume of 30,994 shares, compared to its average volume of 49,939. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.81. The business has a 50 day moving average of $39.61 and a 200 day moving average of $35.56. Camden National has a 12-month low of $26.52 and a 12-month high of $43.50. The stock has a market cap of $601.66 million, a price-to-earnings ratio of 13.68 and a beta of 0.72.

Camden National (NASDAQ:CAC - Get Free Report) last posted its earnings results on Tuesday, July 30th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.71 by $0.10. The firm had revenue of $72.81 million for the quarter, compared to analysts' expectations of $41.07 million. Camden National had a net margin of 16.01% and a return on equity of 10.36%. During the same quarter last year, the firm earned $0.85 EPS. As a group, analysts expect that Camden National will post 3.34 EPS for the current year.

Institutional Investors Weigh In On Camden National

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in shares of Camden National by 1.4% in the second quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider's stock worth $762,000 after purchasing an additional 319 shares in the last quarter. Coston McIsaac & Partners boosted its holdings in Camden National by 18.6% in the 3rd quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider's stock worth $480,000 after buying an additional 1,819 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in Camden National in the 2nd quarter valued at approximately $73,000. Empowered Funds LLC raised its holdings in Camden National by 7.9% during the 1st quarter. Empowered Funds LLC now owns 33,496 shares of the financial services provider's stock valued at $1,123,000 after acquiring an additional 2,450 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Camden National by 58.1% during the third quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider's stock worth $292,000 after acquiring an additional 2,602 shares in the last quarter. 77.41% of the stock is currently 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.