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

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

Several other brokerages also recently weighed in on CAC. Raymond James reaffirmed an "outperform" rating and set a $53.00 target price (up previously from $50.00) on shares of Camden National in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their target price on Camden National from $48.00 to $50.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 29th.

Camden National Stock Up 0.9 %

Shares of CAC stock traded up $0.32 during trading hours on Thursday, reaching $37.74. The company had a trading volume of 90,631 shares, compared to its average volume of 65,992. Camden National has a twelve month low of $30.04 and a twelve month high of $50.07. The company has a market capitalization of $637.28 million, a P/E ratio of 10.43 and a beta of 0.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The stock's fifty day simple moving average is $40.87 and its 200 day simple moving average is $42.99.

Camden National (NASDAQ:CAC - Get Free Report) last released 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 net margin of 18.02% and a return on equity of 10.38%. During the same quarter last year, the business earned $0.85 earnings per share. As a group, sell-side analysts expect that Camden National will post 4.25 earnings per share for the current fiscal year.

Institutional Trading of Camden National

A number of institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Camden National by 53.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider's stock worth $11,731,000 after purchasing an additional 99,097 shares in the last quarter. Barclays PLC increased its holdings in Camden National by 38.9% in the third quarter. Barclays PLC now owns 48,339 shares of the financial services provider's stock worth $1,998,000 after buying an additional 13,542 shares during the last quarter. Geode Capital Management LLC raised its position in Camden National by 1.2% during the third quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider's stock valued at $14,236,000 after acquiring an additional 4,067 shares in the last quarter. SG Americas Securities LLC lifted its stake in Camden National by 26.5% in the fourth quarter. SG Americas Securities LLC now owns 8,952 shares of the financial services provider's stock valued at $383,000 after acquiring an additional 1,875 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Camden National by 1.8% in the fourth quarter. Rhumbline Advisers now owns 23,204 shares of the financial services provider's stock worth $992,000 after acquiring an additional 415 shares in the last quarter. Institutional investors and hedge funds 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.