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

Equities researchers at StockNews.com started coverage on shares of Camden National (NASDAQ:CAC) in a research note issued to investors on Sunday. The brokerage set a “hold” rating on the financial services provider’s stock.

CAC has been the topic of a number of other reports. Keefe, Bruyette & Woods increased their target price on Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, January 29th. Raymond James reiterated an “outperform” rating and issued a $53.00 target price (up from $50.00) on shares of Camden National in a report on Wednesday, January 29th.

Camden National Stock Performance

Shares of CAC stock opened at $41.31 on Friday. The company has a market cap of $696.69 million, a price-to-earnings ratio of 11.41 and a beta of 0.73. Camden National has a 52 week low of $28.62 and a 52 week high of $50.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $43.57 and a 200-day moving average of $43.08.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, topping 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 in the prior year, the business posted $0.85 earnings per share. On average, equities analysts forecast that Camden National will post 4.25 earnings per share for the current year.

Hedge Funds Weigh In On Camden National

Several large investors have recently bought and sold shares of the stock. Franklin Resources Inc. lifted its stake in Camden National by 7.4% during the 4th quarter. Franklin Resources Inc. now owns 1,311,526 shares of the financial services provider’s stock valued at $56,055,000 after acquiring an additional 90,485 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Camden National by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 858,979 shares of the financial services provider’s stock valued at $36,713,000 after acquiring an additional 15,822 shares in the last quarter. Geode Capital Management LLC lifted its stake in Camden National by 1.2% during the 3rd 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. lifted its stake in Camden National by 12.6% during the 4th quarter. JPMorgan Chase & Co. now owns 319,794 shares of the financial services provider’s stock valued at $13,668,000 after acquiring an additional 35,883 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Camden National by 2.7% during the 4th quarter. Renaissance Technologies LLC now owns 289,800 shares of the financial services provider’s stock valued at $12,386,000 after acquiring an additional 7,500 shares in the last quarter. 77.41% of the stock is currently 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.