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

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

Several other research firms also recently weighed in on CAC. Keefe, Bruyette & Woods raised their price objective on Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. Raymond James reaffirmed an “outperform” rating and issued a $53.00 price objective (up from $50.00) on shares of Camden National in a research note on Wednesday, January 29th.

Camden National Stock Down 0.7 %

CAC opened at $44.71 on Thursday. 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 business has a 50 day simple moving average of $43.95 and a 200-day simple moving average of $42.50. The stock has a market capitalization of $651.74 million, a P/E ratio of 12.35 and a beta of 0.77. Camden National has a 12 month low of $28.62 and a 12 month high of $50.07.

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

Hedge Funds Weigh In On Camden National

Several hedge funds have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Camden National by 23.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,322 shares of the financial services provider’s stock worth $1,467,000 after buying an additional 6,544 shares in the last quarter. Rafferty Asset Management LLC increased its position in Camden National by 20.6% during the fourth quarter. Rafferty Asset Management LLC now owns 11,917 shares of the financial services provider’s stock worth $509,000 after buying an additional 2,032 shares in the last quarter. Occudo Quantitative Strategies LP increased its position in Camden National by 8.6% during the fourth quarter. Occudo Quantitative Strategies LP now owns 6,118 shares of the financial services provider’s stock worth $261,000 after buying an additional 485 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Camden National by 4.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,264 shares of the financial services provider’s stock worth $353,000 after buying an additional 330 shares in the last quarter. Finally, Deutsche Bank AG increased its position in Camden National by 41.7% during the fourth quarter. Deutsche Bank AG now owns 9,251 shares of the financial services provider’s stock worth $395,000 after buying an additional 2,724 shares in the last quarter. 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.