StockNews.com Begins Coverage on Camden National (NASDAQ:CAC)

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

Other research analysts have also issued reports about the company. Keefe, Bruyette & Woods lifted their target price on Camden National from $43.00 to $48.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Raymond James raised Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Friday, December 20th.

Camden National Price Performance

CAC opened at $42.25 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $615.88 million, a PE ratio of 13.20 and a beta of 0.75. The business’s 50-day moving average is $45.28 and its two-hundred day moving average is $40.36. Camden National has a 1 year low of $28.62 and a 1 year high of $50.07.

Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.83 by $0.11. Camden National had a return on equity of 9.95% and a net margin of 16.47%. The business had revenue of $75.13 million for the quarter, compared to analyst estimates of $43.90 million. During the same quarter in the prior year, the firm posted $0.96 EPS. Research analysts anticipate that Camden National will post 3.49 earnings per share for the current fiscal year.

Institutional Trading of Camden National

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in shares of 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 purchasing an additional 26,450 shares during the period. Geode Capital Management LLC increased its position in shares of Camden National by 1.2% during the third 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 last quarter. JPMorgan Chase & Co. boosted its holdings in Camden National by 53.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock valued at $11,731,000 after acquiring an additional 99,097 shares during the period. Renaissance Technologies LLC increased its position in shares of Camden National by 1.3% during the second quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock worth $9,313,000 after acquiring an additional 3,600 shares during the period. Finally, LSV Asset Management increased its position in shares of Camden National by 8.4% in the 2nd quarter. LSV Asset Management now owns 238,595 shares of the financial services provider’s stock valued at $7,874,000 after purchasing an additional 18,517 shares during the last quarter. 77.41% of the stock is owned by hedge funds and other 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.