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

Equities researchers at StockNews.com assumed coverage on shares of Camden National (NASDAQ:CAC) in a research report issued to clients and investors on Saturday. The firm set a “hold” rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Raymond James restated an “outperform” rating and set a $53.00 target price (up from $50.00) on shares of Camden National in a report on Wednesday, January 29th. Keefe, Bruyette & Woods raised their target price on shares of Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, January 29th.

Camden National Stock Down 0.6 %

Shares of NASDAQ CAC opened at $41.47 on Friday. The stock has a market capitalization of $604.51 million, a P/E ratio of 11.46 and a beta of 0.77. Camden National has a one year low of $28.62 and a one year high of $50.07. The firm’s 50 day simple moving average is $43.75 and its two-hundred day simple moving average is $42.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82.

Camden National (NASDAQ:CAC) last released its 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 net margin of 18.02% and a return on equity of 10.38%. During the same quarter last year, the company posted $0.85 EPS. As a group, analysts expect that Camden National will post 4.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Camden National

Several hedge funds have recently bought and sold shares of CAC. LPL Financial LLC increased its position in Camden National by 3.8% during the 4th quarter. LPL Financial LLC now owns 6,982 shares of the financial services provider’s stock valued at $298,000 after buying an additional 257 shares in the last quarter. US Bancorp DE grew its position in Camden National by 2.8% during the 4th quarter. US Bancorp DE now owns 11,474 shares of the financial services provider’s stock valued at $490,000 after purchasing an additional 308 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Camden National by 4.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,264 shares of the financial services provider’s stock valued at $353,000 after purchasing an additional 330 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Camden National by 1.8% during the fourth quarter. Rhumbline Advisers now owns 23,204 shares of the financial services provider’s stock valued at $992,000 after buying an additional 415 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in Camden National by 4.9% in the 4th quarter. First Trust Advisors LP now owns 9,248 shares of the financial services provider’s stock worth $395,000 after acquiring an additional 431 shares during the last quarter. 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.