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

Research analysts 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.

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

Camden National Stock Down 0.5 %

Shares of NASDAQ:CAC opened at $47.25 on Friday. The company’s fifty day moving average is $41.67 and its 200-day moving average is $37.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.81 and a current ratio of 0.82. Camden National has a 52 week low of $28.62 and a 52 week high of $50.07. The company has a market capitalization of $688.76 million, a PE ratio of 14.77 and a beta of 0.72.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.11. Camden National had a net margin of 16.47% and a return on equity of 9.95%. The firm had revenue of $75.13 million for the quarter, compared to analysts’ expectations of $43.90 million. During the same period in the prior year, the firm earned $0.96 earnings per share. Equities research analysts predict that Camden National will post 3.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Camden National

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Camden National in the 2nd quarter valued at $73,000. BNP Paribas Financial Markets grew its stake 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 acquiring an additional 3,330 shares during the period. SG Americas Securities LLC grew its stake in Camden National by 58.1% in the third quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock valued at $292,000 after acquiring an additional 2,602 shares during the period. Inspire Investing LLC bought a new stake in shares of Camden National in the second quarter worth about $349,000. Finally, US Bancorp DE raised its position in shares of Camden National by 2.9% during the third 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 during the period. Institutional investors own 77.41% of the company’s stock.

Camden National Company Profile

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.