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

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

Several other equities research analysts have also recently weighed in on CAC. Keefe, Bruyette & Woods upped their target price 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. Stephens upped their price target on shares of Camden National from $35.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd.

Camden National Trading Up 0.3 %

Shares of CAC stock opened at $42.08 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The stock has a market cap of $613.11 million, a P/E ratio of 13.15 and a beta of 0.72. The stock has a 50 day simple moving average of $40.12 and a 200 day simple moving average of $36.07. Camden National has a 1 year low of $28.62 and a 1 year high of $43.75.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.11. The business had revenue of $75.13 million during the quarter, compared to analysts’ expectations of $43.90 million. Camden National had a return on equity of 10.09% and a net margin of 16.47%. During the same period in the previous year, the company posted $0.96 earnings per share. On average, research analysts predict that Camden National will post 3.42 earnings per share for the current fiscal year.

Institutional Trading of Camden National

A number of institutional investors have recently bought and sold shares of the company. Rhumbline Advisers boosted its position in shares of Camden National by 1.4% during the 2nd quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock worth $762,000 after purchasing an additional 319 shares in the last quarter. US Bancorp DE boosted its position in shares of Camden National by 2.9% during the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 319 shares in the last quarter. Coston McIsaac & Partners boosted its position in shares of Camden National by 18.6% during the 3rd quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock worth $480,000 after purchasing an additional 1,819 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Camden National during the 2nd quarter worth about $73,000. Finally, Empowered Funds LLC boosted its position in shares of Camden National by 7.9% during the 1st quarter. Empowered Funds LLC now owns 33,496 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 2,450 shares in 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.