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

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

Several other brokerages have also issued reports on CAC. Stephens upped their target price on Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods boosted their price target on Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 11th.

Camden National Stock Up 1.8 %

NASDAQ:CAC opened at $47.90 on Friday. The company’s 50-day simple moving average is $40.73 and its 200-day simple moving average is $36.68. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.82. Camden National has a fifty-two week low of $28.62 and a fifty-two week high of $50.05. The stock has a market capitalization of $697.90 million, a P/E ratio of 14.97 and a beta of 0.72.

Camden National (NASDAQ:CAC) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.11. The business had revenue of $75.13 million for the quarter, compared to analyst estimates of $43.90 million. Camden National had a net margin of 16.47% and a return on equity of 10.09%. During the same period in the previous year, the company earned $0.96 earnings per share. On average, equities analysts anticipate that Camden National will post 3.45 earnings per share for the current fiscal year.

Institutional Trading of Camden National

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Camden National in the second quarter worth about $73,000. BNP Paribas Financial Markets boosted its position in Camden National by 89.3% in the first quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock valued at $237,000 after buying an additional 3,330 shares during the last quarter. SG Americas Securities LLC increased its holdings in Camden National by 58.1% in the 3rd quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock worth $292,000 after buying an additional 2,602 shares during the period. Inspire Investing LLC purchased a new position in Camden National during the 2nd quarter worth approximately $349,000. Finally, US Bancorp DE lifted its stake in Camden National by 2.9% during the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock valued at $461,000 after acquiring an additional 319 shares during the period. Institutional investors and hedge funds 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.