Camden National (NASDAQ:CAC) Now Covered by StockNews.com

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

Several other research analysts have also recently issued reports on the stock. Raymond James raised shares of Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Friday, December 20th. Keefe, Bruyette & Woods boosted their target price on Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Camden National Price Performance

Shares of NASDAQ CAC opened at $42.99 on Thursday. The stock has a market cap of $626.67 million, a P/E ratio of 13.43 and a beta of 0.75. Camden National has a twelve month low of $28.62 and a twelve month high of $50.07. The stock has a 50 day moving average of $45.11 and a two-hundred day moving average of $39.93. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data 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. Camden National had a net margin of 16.47% and a return on equity of 9.95%. The company had revenue of $75.13 million for the quarter, compared to the consensus estimate of $43.90 million. During the same period last year, the firm posted $0.96 EPS. On average, research analysts forecast that Camden National will post 3.49 earnings per share for the current year.

Institutional Investors Weigh In On Camden National

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Camden National by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock worth $27,605,000 after acquiring an additional 26,450 shares in the last quarter. Geode Capital Management LLC increased its holdings in Camden National by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock valued at $14,236,000 after purchasing an additional 4,067 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Camden National by 1.3% in the 2nd quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock valued at $9,313,000 after purchasing an additional 3,600 shares in the last quarter. LSV Asset Management raised its position in Camden National by 8.4% in the second quarter. LSV Asset Management now owns 238,595 shares of the financial services provider’s stock valued at $7,874,000 after purchasing an additional 18,517 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Camden National by 11.1% during the second quarter. American Century Companies Inc. now owns 182,690 shares of the financial services provider’s stock worth $6,029,000 after purchasing an additional 18,294 shares in the last quarter. 77.41% of the stock is currently owned by institutional investors and hedge funds.

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.