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

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

A number of other research firms have also commented on CAC. Stephens raised their price objective on shares of Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods increased their price target on shares of Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a research report on Wednesday, September 11th.

Camden National Stock Performance

CAC stock opened at $48.34 on Friday. 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 market cap of $704.80 million, a PE ratio of 15.11 and a beta of 0.72. The business has a 50 day moving average of $42.74 and a 200-day moving average of $37.97. Camden National has a 12-month low of $28.62 and a 12-month high of $50.07.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. Camden National had a net margin of 16.47% and a return on equity of 9.95%. The firm had revenue of $75.13 million during the quarter, compared to the consensus estimate of $43.90 million. During the same period in the prior year, the firm earned $0.96 EPS. As a group, sell-side analysts expect that Camden National will post 3.45 earnings per share for the current year.

Hedge Funds Weigh In On Camden National

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 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 during the period. Barclays PLC raised its holdings in shares of Camden National by 38.9% during the third quarter. Barclays PLC now owns 48,339 shares of the financial services provider’s stock valued at $1,998,000 after purchasing an additional 13,542 shares during the last quarter. Dean Investment Associates LLC lifted its position in Camden National by 36.8% during the third quarter. Dean Investment Associates LLC now owns 65,557 shares of the financial services provider’s stock valued at $2,709,000 after purchasing an additional 17,632 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Camden National by 15.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,778 shares of the financial services provider’s stock worth $1,148,000 after purchasing an additional 3,682 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Camden National by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock worth $4,876,000 after purchasing an additional 674 shares during the period. 77.41% of the stock is 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.