Camden National (NASDAQ:CAC) Earns Hold Rating from Analysts at StockNews.com

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

CAC has been the subject of a number of other research reports. Keefe, Bruyette & Woods increased their target price on Camden National from $43.00 to $48.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Raymond James upgraded Camden National from a "market perform" rating to an "outperform" rating and set a $50.00 price objective for the company in a research report on Friday, December 20th.

Camden National Price Performance

Shares of CAC traded down $0.24 during midday trading on Friday, reaching $41.51. The stock had a trading volume of 130,525 shares, compared to its average volume of 98,584. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $605.09 million, a P/E ratio of 12.97 and a beta of 0.76. The firm's 50 day moving average price is $45.29 and its 200-day moving average price is $40.85. Camden National has a 52 week low of $28.62 and a 52 week high of $50.07.

Camden National (NASDAQ:CAC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.11. Camden National had a net margin of 16.47% and a return on equity of 9.95%. The company had revenue of $75.13 million for the quarter, compared to analysts' expectations of $43.90 million. During the same quarter in the previous year, the company posted $0.96 EPS. On average, analysts forecast that Camden National will post 3.49 earnings per share for the current fiscal year.

Camden National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend is Wednesday, January 15th. Camden National's dividend payout ratio (DPR) is presently 52.50%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. acquired a new stake in Camden National during the second quarter valued at approximately $73,000. SG Americas Securities LLC lifted its position in shares of Camden National by 58.1% during the 3rd quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider's stock worth $292,000 after buying an additional 2,602 shares during the period. Inspire Investing LLC acquired a new stake in Camden National in the 2nd quarter valued at $349,000. US Bancorp DE grew its position in Camden National by 2.9% in the third quarter. US Bancorp DE now owns 11,166 shares of the financial services provider's stock valued at $461,000 after acquiring an additional 319 shares during the period. Finally, Coston McIsaac & Partners raised its stake in 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 acquiring an additional 1,819 shares in the last quarter. 77.41% of the stock is owned by 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.