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

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

A number of other equities research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price target on shares of 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 boosted their price target on shares of Camden National from $35.00 to $42.00 and gave the company an "equal weight" rating in a research report on Friday, August 2nd.

Camden National Stock Down 1.1 %

Shares of Camden National stock traded down $0.47 during trading on Thursday, hitting $41.95. 57,757 shares of the stock were exchanged, compared to its average volume of 49,988. The stock has a market cap of $612.76 million, a price-to-earnings ratio of 13.94 and a beta of 0.72. The firm's 50-day moving average price is $40.08 and its 200 day moving average price is $35.98. Camden National has a 12-month low of $28.00 and a 12-month high of $43.75. 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 (NASDAQ:CAC - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.10. The business had revenue of $72.81 million during 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 period in the previous year, the company earned $0.85 EPS. As a group, analysts forecast that Camden National will post 3.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Rhumbline Advisers increased its stake in Camden National by 1.4% in the second quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider's stock valued at $762,000 after purchasing an additional 319 shares during the period. US Bancorp DE increased its stake in shares of Camden National by 2.9% during the third quarter. US Bancorp DE now owns 11,166 shares of the financial services provider's stock worth $461,000 after acquiring an additional 319 shares during the period. Coston McIsaac & Partners increased its stake in shares of Camden National by 18.6% during the third quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider's stock worth $480,000 after acquiring an additional 1,819 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Camden National during the second quarter worth about $73,000. Finally, Empowered Funds LLC increased its stake in shares of Camden National by 7.9% during the first quarter. Empowered Funds LLC now owns 33,496 shares of the financial services provider's stock worth $1,123,000 after acquiring an additional 2,450 shares during the period. 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.