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

StockNews.com initiated coverage on shares of Camden National (NASDAQ:CAC - Free Report) in a research note published on Monday. The firm issued a hold rating on the financial services provider's stock.

A number of other equities analysts also recently weighed in on CAC. Keefe, Bruyette & Woods raised their target price on shares of Camden National from $48.00 to $50.00 and gave the company a "market perform" rating in a research note on Wednesday, January 29th. Raymond James reissued an "outperform" rating and issued a $53.00 target price (up from $50.00) on shares of Camden National in a report on Wednesday, January 29th.

Camden National Stock Performance

Shares of Camden National stock traded down $0.05 during trading hours on Monday, reaching $41.45. The company had a trading volume of 57,437 shares, compared to its average volume of 59,088. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. Camden National has a one year low of $28.62 and a one year high of $50.07. The firm has a market cap of $699.05 million, a PE ratio of 11.45 and a beta of 0.73. The business has a fifty day simple moving average of $43.45 and a 200 day simple moving average of $43.21.

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

Camden National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.68 dividend on an annualized basis and a yield of 4.05%. Camden National's dividend payout ratio is currently 46.41%.

Institutional Investors Weigh In On Camden National

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Camden National during the fourth quarter valued at $1,727,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Camden National by 23.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,322 shares of the financial services provider's stock worth $1,467,000 after acquiring an additional 6,544 shares during the period. Rafferty Asset Management LLC lifted its holdings in Camden National by 20.6% during the fourth quarter. Rafferty Asset Management LLC now owns 11,917 shares of the financial services provider's stock valued at $509,000 after purchasing an additional 2,032 shares in the last quarter. Occudo Quantitative Strategies LP boosted its position in shares of Camden National by 8.6% in the fourth quarter. Occudo Quantitative Strategies LP now owns 6,118 shares of the financial services provider's stock worth $261,000 after purchasing an additional 485 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Camden National by 4.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,264 shares of the financial services provider's stock worth $353,000 after purchasing an additional 330 shares in the last quarter. 77.41% of the stock is currently owned by hedge funds and other institutional investors.

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.