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

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

Several other research analysts have also issued reports on CAC. Keefe, Bruyette & Woods increased their target price on Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Raymond James upgraded Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Friday, December 20th.

Camden National Stock Performance

NASDAQ:CAC opened at $41.51 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 business’s 50-day moving average price is $45.29 and its two-hundred day moving average price is $40.78. The stock has a market cap of $605.09 million, a P/E ratio of 12.97 and a beta of 0.76. Camden National has a twelve month low of $28.62 and a twelve month high of $50.07.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data 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. The company had revenue of $75.13 million for the quarter, compared to analysts’ expectations of $43.90 million. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same period last year, the firm posted $0.96 EPS. As a group, equities analysts predict that Camden National will post 3.49 EPS for the current fiscal year.

Institutional Trading of Camden National

Several hedge funds have recently bought and sold shares of the stock. Kimelman & Baird LLC purchased a new stake in Camden National in the 2nd quarter worth about $4,943,000. JPMorgan Chase & Co. grew its stake in shares of Camden National by 53.6% during the third quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock valued at $11,731,000 after buying an additional 99,097 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Camden National in the third quarter worth approximately $1,729,000. Dimensional Fund Advisors LP boosted its holdings in Camden National by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock valued at $27,605,000 after acquiring an additional 26,450 shares during the period. Finally, Assenagon Asset Management S.A. grew its position 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 valued at $1,378,000 after acquiring an additional 22,007 shares during the last quarter. Hedge funds and other institutional investors 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.