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

StockNews.com began coverage on shares of Camden National (NASDAQ:CAC) in a research note released on Thursday. The firm issued a hold rating on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on CAC. Raymond James restated an “outperform” rating and issued a $53.00 target price (up from $50.00) on shares of Camden National in a report on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their target price on 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 1.8 %

Shares of CAC stock opened at $43.91 on Thursday. Camden National has a 1 year low of $28.62 and a 1 year high of $50.07. The stock has a market cap of $640.21 million, a PE ratio of 12.13 and a beta of 0.77. The business’s fifty day moving average is $43.91 and its 200-day moving average is $42.51. 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 issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share (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 quarter in the previous year, the firm posted $0.85 EPS. Equities analysts expect that Camden National will post 4.25 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were issued a dividend of $0.42 per share. The ex-dividend date was Wednesday, January 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.83%. Camden National’s dividend payout ratio is 46.41%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. LPL Financial LLC raised its position in Camden National by 3.8% during the fourth 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 during the period. US Bancorp DE raised its position in Camden National by 2.8% during the fourth quarter. US Bancorp DE now owns 11,474 shares of the financial services provider’s stock valued at $490,000 after buying an additional 308 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 valued at $353,000 after buying an additional 330 shares during the period. Rhumbline Advisers raised its position in 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 period. Finally, First Trust Advisors LP raised its position in Camden National by 4.9% during the fourth quarter. First Trust Advisors LP now owns 9,248 shares of the financial services provider’s stock valued at $395,000 after buying an additional 431 shares during the period. 77.41% of the stock is owned by institutional investors and hedge funds.

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.