Camden National (NASDAQ:CAC) Now Covered by StockNews.com

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

Other analysts have also issued research reports about the company. Keefe, Bruyette & Woods raised their price target on Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Raymond James raised shares of Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research report on Friday, December 20th.

Camden National Price Performance

Shares of Camden National stock opened at $44.05 on Friday. The stock has a market capitalization of $642.25 million, a P/E ratio of 13.77 and a beta of 0.76. Camden National has a one year low of $28.62 and a one year high of $50.07. 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 business’s 50 day simple moving average is $45.05 and its two-hundred day simple moving average is $41.23.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. The company had revenue of $75.13 million during the quarter, compared to analyst estimates of $43.90 million. Camden National had a net margin of 16.47% and a return on equity of 9.95%. During the same period in the prior year, the business posted $0.96 EPS. Analysts forecast that Camden National will post 3.49 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in Camden National by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock valued at $27,605,000 after buying an additional 26,450 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of 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. JPMorgan Chase & Co. raised its position in shares of Camden National by 53.6% in 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 during the last quarter. Renaissance Technologies LLC boosted its stake in Camden National by 1.3% in the 2nd quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock worth $9,313,000 after purchasing an additional 3,600 shares in the last quarter. Finally, American Century Companies Inc. grew its position in 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 valued at $6,029,000 after purchasing an additional 18,294 shares during the last quarter. 77.41% of the stock is currently owned by institutional investors.

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.