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

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

CAC has been the subject of several other reports. Keefe, Bruyette & Woods upped their price objective on 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 stock an “equal weight” rating in a research report on Friday, August 2nd.

Camden National Stock Performance

Shares of CAC opened at $47.84 on Friday. The firm has a market cap of $697.36 million, a P/E ratio of 14.95 and a beta of 0.72. Camden National has a twelve month low of $28.62 and a twelve month high of $50.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s 50 day moving average price is $42.91 and its two-hundred day moving average price is $38.08.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.83 by $0.11. The business had revenue of $75.13 million for the quarter, compared to analysts’ expectations of $43.90 million. Camden National had a net margin of 16.47% and a return on equity of 9.95%. During the same period in the previous year, the firm posted $0.96 EPS. On average, analysts forecast that Camden National will post 3.45 EPS for the current fiscal year.

Camden National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend was Tuesday, October 15th. Camden National’s payout ratio is 52.50%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CAC. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Camden National in the 2nd quarter valued at approximately $73,000. SG Americas Securities LLC raised its position in Camden National by 58.1% during the third quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock worth $292,000 after acquiring an additional 2,602 shares in the last quarter. Inspire Investing LLC acquired a new stake in Camden National in the second quarter valued at $349,000. US Bancorp DE lifted its stake in Camden National by 2.9% in the third quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock valued at $461,000 after acquiring an additional 319 shares during the last quarter. Finally, Coston McIsaac & Partners grew its position in shares of Camden National by 18.6% in the 3rd quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock valued at $480,000 after acquiring an additional 1,819 shares during the period. Institutional investors and hedge funds 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.