Camden National (NASDAQ:CAC) Earns Hold Rating from Analysts at StockNews.com

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

Several other research analysts also recently commented on the company. 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. Raymond James reaffirmed an “outperform” rating and issued a $53.00 price target (up from $50.00) on shares of Camden National in a research note on Wednesday, January 29th.

Camden National Stock Performance

CAC stock opened at $39.59 on Friday. The company has a market cap of $668.52 million, a P/E ratio of 10.94 and a beta of 0.64. The business’s fifty day moving average is $39.79 and its 200-day moving average is $42.89. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. Camden National has a twelve month low of $30.78 and a twelve month high of $50.07.

Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 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 period in the prior year, the firm posted $0.85 earnings per share. Equities research analysts forecast that Camden National will post 4.25 EPS for the current year.

Hedge Funds Weigh In On Camden National

A number of institutional investors and hedge funds have recently made changes to their positions in CAC. JPMorgan Chase & Co. increased its holdings in Camden National by 53.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock worth $11,731,000 after buying an additional 99,097 shares in the last quarter. Barclays PLC grew its position in shares of Camden National by 38.9% during the third quarter. Barclays PLC now owns 48,339 shares of the financial services provider’s stock worth $1,998,000 after purchasing an additional 13,542 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Camden National by 26.5% in the fourth quarter. SG Americas Securities LLC now owns 8,952 shares of the financial services provider’s stock worth $383,000 after buying an additional 1,875 shares in the last quarter. Federated Hermes Inc. purchased a new stake in Camden National in the 4th quarter worth $46,000. Finally, Rhumbline Advisers grew its holdings in Camden National by 1.8% during the 4th 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 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.