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

Analysts at StockNews.com began coverage on shares of Camden National (NASDAQ:CAC) in a research report issued on Monday. The firm set a “hold” rating on the financial services provider’s stock.

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

Camden National Stock Down 1.1 %

Shares of CAC opened at $41.54 on Monday. The company’s 50-day simple moving average is $43.50 and its 200-day simple moving average is $43.22. 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 has a 1 year low of $28.62 and a 1 year high of $50.07. The stock has a market capitalization of $700.57 million, a PE ratio of 11.48 and a beta of 0.73.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm posted $0.85 EPS. Analysts forecast that Camden National will post 4.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Camden National

A number of institutional investors have recently modified their holdings of CAC. Franklin Resources Inc. boosted its stake in Camden National by 7.4% during the 4th quarter. Franklin Resources Inc. now owns 1,311,526 shares of the financial services provider’s stock worth $56,055,000 after purchasing an additional 90,485 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Camden National by 1.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 858,979 shares of the financial services provider’s stock worth $36,713,000 after buying an additional 15,822 shares during the period. Geode Capital Management LLC boosted its stake in shares of Camden National by 1.2% during the third quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock worth $14,236,000 after buying an additional 4,067 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Camden National by 12.6% during the fourth quarter. JPMorgan Chase & Co. now owns 319,794 shares of the financial services provider’s stock worth $13,668,000 after buying an additional 35,883 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Camden National by 2.7% in the 4th quarter. Renaissance Technologies LLC now owns 289,800 shares of the financial services provider’s stock valued at $12,386,000 after acquiring an additional 7,500 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.