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

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

Several other brokerages have also commented on CAC. Keefe, Bruyette & Woods lifted 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. Raymond James restated an “outperform” rating and set a $53.00 price target (up from $50.00) on shares of Camden National in a research note on Wednesday, January 29th.

Camden National Price Performance

NASDAQ CAC opened at $40.47 on Tuesday. Camden National has a one year low of $28.62 and a one year high of $50.07. The stock has a 50-day moving average of $43.26 and a 200 day moving average of $43.31. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $682.53 million, a price-to-earnings ratio of 11.18 and a beta of 0.73.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the firm earned $0.85 earnings per share. On average, sell-side analysts forecast that Camden National will post 4.25 EPS for the current year.

Institutional Trading of Camden National

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. grew its stake in shares of 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 during the period. Dimensional Fund Advisors LP boosted its position in shares of Camden National by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 858,979 shares of the financial services provider’s stock worth $36,713,000 after purchasing an additional 15,822 shares during the period. Geode Capital Management LLC increased its stake in shares of Camden National by 1.2% in the third quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock worth $14,236,000 after purchasing an additional 4,067 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of 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 purchasing an additional 35,883 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Camden National by 2.7% in the 4th quarter. Renaissance Technologies LLC now owns 289,800 shares of the financial services provider’s stock worth $12,386,000 after buying an additional 7,500 shares during the period. Hedge funds and other institutional investors own 77.41% of the company’s stock.

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.