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

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

CAC has been the topic of a number of other reports. Stephens boosted their price target 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. Keefe, Bruyette & Woods increased their target price 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.

Camden National Stock Down 0.5 %

CAC stock traded down $0.24 during midday trading on Friday, reaching $47.25. 59,906 shares of the company's stock traded hands, compared to its average volume of 51,092. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. The firm's fifty day moving average price is $41.67 and its 200-day moving average price is $37.26. Camden National has a 52 week low of $28.62 and a 52 week high of $50.07. The company has a market cap of $688.91 million, a price-to-earnings ratio of 14.77 and a beta of 0.72.

Camden National (NASDAQ:CAC - Get Free Report) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.11. Camden National had a return on equity of 9.95% and a net margin of 16.47%. The company had revenue of $75.13 million for the quarter, compared to analyst estimates of $43.90 million. During the same quarter last year, the company earned $0.96 earnings per share. As a group, sell-side analysts forecast that Camden National will post 3.45 earnings per share for the current fiscal year.

Institutional Trading of Camden National

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in Camden National by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider's stock worth $27,605,000 after acquiring an additional 26,450 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Camden National by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider's stock worth $14,236,000 after buying an additional 4,067 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Camden National by 1.3% during the second quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider's stock valued at $9,313,000 after buying an additional 3,600 shares during the period. LSV Asset Management raised its holdings in shares of Camden National by 8.4% during the second quarter. LSV Asset Management now owns 238,595 shares of the financial services provider's stock valued at $7,874,000 after acquiring an additional 18,517 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Camden National by 11.1% in the second quarter. American Century Companies Inc. now owns 182,690 shares of the financial services provider's stock worth $6,029,000 after acquiring an additional 18,294 shares during the period. Hedge funds and other institutional investors own 77.41% of the company's stock.

Camden National Company Profile

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.