Camden National (NASDAQ:CAC) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Camden National (NASDAQ:CAC) in a research note issued on Tuesday. The firm set a “hold” rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods raised their price target on shares of Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Camden National Stock Performance

Shares of NASDAQ CAC opened at $46.13 on Tuesday. The stock’s fifty day simple moving average is $44.13 and its 200 day simple moving average is $38.97. The stock has a market capitalization of $672.58 million, a price-to-earnings ratio of 14.42 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 52-week low of $28.62 and a 52-week high of $50.07.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $43.90 million. During the same quarter last year, the business posted $0.96 EPS. As a group, sell-side analysts forecast that Camden National will post 3.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Camden National

A number of large investors have recently modified their holdings of CAC. Dimensional Fund Advisors LP grew its position in shares of Camden National by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock valued at $27,605,000 after acquiring an additional 26,450 shares during the period. Geode Capital Management LLC increased 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 worth $14,236,000 after buying an additional 4,067 shares during the last quarter. Renaissance Technologies LLC raised its stake in Camden National by 1.3% in the second quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock valued at $9,313,000 after buying an additional 3,600 shares during the period. LSV Asset Management lifted its position in shares of Camden National by 8.4% in the second quarter. LSV Asset Management now owns 238,595 shares of the financial services provider’s stock valued at $7,874,000 after buying an additional 18,517 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Camden National by 11.1% during the 2nd quarter. American Century Companies Inc. now owns 182,690 shares of the financial services provider’s stock worth $6,029,000 after acquiring an additional 18,294 shares during the last quarter. 77.41% of the stock is currently 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.