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

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

Several other equities research analysts have also recently issued reports on CAC. Raymond James reissued an “outperform” rating and issued a $53.00 target price (up from $50.00) on shares of Camden National in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods upped their price objective on Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, January 29th.

Camden National Trading Down 2.1 %

NASDAQ:CAC opened at $44.41 on Tuesday. The company has a market capitalization of $647.50 million, a PE ratio of 12.27 and a beta of 0.77. Camden National has a 52-week low of $28.62 and a 52-week high of $50.07. The stock has a fifty day simple moving average of $44.47 and a 200-day simple moving average of $41.99. 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 (NASDAQ:CAC) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.14. Camden National had a return on equity of 10.38% and a net margin of 18.02%. During the same period last year, the company posted $0.85 EPS. On average, equities research analysts expect that Camden National will post 4.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Camden National

A number of hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its position in Camden National by 18,500.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 1,850 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Camden National during the second quarter valued at $73,000. Foundations Investment Advisors LLC purchased a new stake in Camden National in the 4th quarter worth about $280,000. SG Americas Securities LLC boosted its position in 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 acquiring an additional 2,602 shares during the period. Finally, Clark & Stuart Inc purchased a new position in Camden National during the 4th quarter valued at about $434,000. 77.41% of the stock is currently owned by institutional investors and hedge funds.

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.