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

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

A number of other research firms also recently commented on CAC. Raymond James reissued an "outperform" rating and issued a $53.00 price objective (up previously from $50.00) on shares of Camden National in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their price objective on Camden National from $48.00 to $50.00 and gave the stock a "market perform" rating in a research note on Wednesday, January 29th.

Camden National Stock Performance

Camden National stock traded down $0.24 during mid-day trading on Friday, hitting $41.47. 39,850 shares of the company's stock traded hands, compared to its average volume of 76,451. The firm has a 50 day moving average price of $43.75 and a 200 day moving average price of $42.98. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. The company has a market cap of $604.51 million, a PE ratio of 11.46 and a beta of 0.73. Camden National has a one year low of $28.62 and a one year high of $50.07.

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Camden National (NASDAQ:CAC - Get Free Report) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.14. Camden National had a return on equity of 10.38% and a net margin of 18.02%. During the same quarter in the prior year, the company posted $0.85 EPS. On average, equities analysts forecast that Camden National will post 4.25 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CAC. Aquatic Capital Management LLC purchased a new position in shares of Camden National during the fourth quarter valued at $44,000. Federated Hermes Inc. purchased a new position in shares of Camden National during the fourth quarter valued at $46,000. Nisa Investment Advisors LLC grew its holdings in shares of Camden National by 18,500.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider's stock valued at $79,000 after buying an additional 1,850 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Camden National during the fourth quarter valued at $103,000. Finally, Quantbot Technologies LP purchased a new position in shares of Camden National during the fourth quarter valued at $106,000. Hedge funds and other institutional investors own 77.41% of the company's stock.

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.