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

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

CAC has been the topic of several other reports. Keefe, Bruyette & Woods lifted their target price on shares of Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 29th. Raymond James restated an “outperform” rating and set a $53.00 price target (up from $50.00) on shares of Camden National in a report on Wednesday, January 29th.

Camden National Trading Up 1.7 %

Camden National stock opened at $45.57 on Wednesday. The company has a market cap of $664.41 million, a P/E ratio of 12.59 and a beta of 0.77. The firm’s 50-day moving average is $44.20 and its 200-day moving average is $42.28. Camden National has a 1 year low of $28.62 and a 1 year high of $50.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82.

Camden National (NASDAQ:CAC) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.14. Camden National had a net margin of 18.02% and a return on equity of 10.38%. During the same quarter in the prior year, the business posted $0.85 EPS. On average, equities analysts expect that Camden National will post 4.25 earnings per share for the current year.

Institutional Investors Weigh In On Camden National

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in shares of Camden National by 53.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock worth $11,731,000 after purchasing an additional 99,097 shares during the last quarter. Barclays PLC increased its stake in shares of Camden National by 38.9% in the 3rd quarter. Barclays PLC now owns 48,339 shares of the financial services provider’s stock valued at $1,998,000 after acquiring an additional 13,542 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Camden National in the 3rd quarter valued at about $659,000. Creative Planning increased its stake in shares of Camden National by 65.3% in the 3rd quarter. Creative Planning now owns 34,590 shares of the financial services provider’s stock valued at $1,429,000 after acquiring an additional 13,663 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Camden National by 1.2% in 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 last quarter. 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.