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

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

A number of other equities research analysts have also weighed in on the stock. Keefe, Bruyette & Woods upped their target price on shares of Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a report on Wednesday, September 11th. Stephens upped their target price 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.

Camden National Price Performance

CAC stock opened at $47.06 on Friday. The stock has a market capitalization of $685.66 million, a PE ratio of 14.71 and a beta of 0.72. The company’s 50-day moving average is $40.57 and its 200-day moving average is $36.52. 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 has a 1 year low of $28.62 and a 1 year high of $50.05.

Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. The company had revenue of $75.13 million for the quarter, compared to analysts’ expectations of $43.90 million. Camden National had a net margin of 16.47% and a return on equity of 10.09%. During the same quarter in the prior year, the firm earned $0.96 EPS. Equities research analysts expect that Camden National will post 3.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Camden National

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAC. Kimelman & Baird LLC purchased a new stake in shares of Camden National during the 2nd quarter worth approximately $4,943,000. ProShare Advisors LLC boosted its holdings in Camden National by 13.2% in the 1st quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock worth $8,027,000 after buying an additional 28,007 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Camden National by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock worth $27,605,000 after buying an additional 26,450 shares during the period. Hantz Financial Services Inc. bought a new position in Camden National in the 2nd quarter worth approximately $757,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Camden National by 194.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 33,344 shares of the financial services provider’s stock worth $1,378,000 after buying an additional 22,007 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.