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

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

CAC has been the topic of a number of other research reports. Stephens lifted their price target on shares of Camden National from $35.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Keefe, Bruyette & Woods upped their price target on Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a report on Wednesday, September 11th.

Camden National Stock Performance

NASDAQ:CAC opened at $41.03 on Wednesday. Camden National has a 1-year low of $26.52 and a 1-year high of $43.50. The firm has a market capitalization of $599.33 million, a price-to-earnings ratio of 13.63 and a beta of 0.72. The company’s 50-day moving average is $39.51 and its two-hundred day moving average is $35.52. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.81.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.71 by $0.10. The business had revenue of $72.81 million during the quarter, compared to analyst estimates of $41.07 million. Camden National had a net margin of 16.01% and a return on equity of 10.36%. During the same quarter last year, the firm posted $0.85 earnings per share. Analysts forecast that Camden National will post 3.34 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CAC. Signaturefd LLC grew its holdings in shares of Camden National by 2,990.3% during the 1st quarter. Signaturefd LLC now owns 38,567 shares of the financial services provider’s stock worth $1,293,000 after purchasing an additional 37,319 shares during the period. Kimelman & Baird LLC acquired a new stake in Camden National during the second quarter worth approximately $4,943,000. ProShare Advisors LLC lifted its position in Camden National by 13.2% in the first quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock valued at $8,027,000 after acquiring an additional 28,007 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of Camden National in the 2nd quarter valued at about $757,000. Finally, BNP Paribas Financial Markets lifted its stake in Camden National by 89.3% in the first quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock valued at $237,000 after buying an additional 3,330 shares during the last quarter. Institutional investors and hedge funds own 77.41% of the company’s stock.

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.