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

Stock analysts at StockNews.com started coverage on shares of Camden National (NASDAQ:CAC - Get Free Report) in a research report issued to clients and investors on Friday. The brokerage set a "hold" rating on the financial services provider's stock.

Several other analysts have also issued reports on CAC. Raymond James upgraded shares of Camden National from a "market perform" rating to an "outperform" rating and set a $50.00 price objective on the stock in a report on Friday, December 20th. Keefe, Bruyette & Woods boosted their price target on shares of Camden National from $43.00 to $48.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th.

Camden National Trading Down 0.4 %

NASDAQ:CAC traded down $0.17 on Friday, hitting $42.08. The stock had a trading volume of 58,828 shares, compared to its average volume of 66,064. The company has a fifty day moving average price of $45.31 and a two-hundred day moving average price of $40.43. The stock has a market cap of $613.40 million, a price-to-earnings ratio of 13.15 and a beta of 0.75. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. Camden National has a 1-year low of $28.62 and a 1-year high of $50.07.

Camden National (NASDAQ:CAC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $43.90 million. During the same period in the prior year, the business posted $0.96 earnings per share. Equities research analysts expect that Camden National will post 3.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Camden National

Institutional investors have recently bought and sold shares of the company. Rhumbline Advisers raised 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 valued at $762,000 after acquiring an additional 319 shares in the last quarter. US Bancorp DE raised its position in Camden National by 2.9% in the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider's stock valued at $461,000 after purchasing an additional 319 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Camden National by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider's stock valued at $4,876,000 after buying an additional 674 shares during the period. Apollon Wealth Management LLC grew its position in shares of Camden National by 3.0% during the third quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider's stock worth $1,258,000 after buying an additional 900 shares in the last quarter. Finally, 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 buying an additional 1,819 shares during the period. 77.41% of the stock is owned by institutional investors and hedge funds.

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.