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

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

A number of other equities research analysts have also weighed in on CAC. Raymond James restated an “outperform” rating and set a $53.00 price objective (up previously from $50.00) on shares of Camden National in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their price target on Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, January 29th.

Camden National Stock Down 1.4 %

CAC stock opened at $38.74 on Friday. The firm has a 50-day moving average price of $40.26 and a 200-day moving average price of $43.00. Camden National has a 12 month low of $30.11 and a 12 month high of $50.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $654.16 million, a P/E ratio of 10.70 and a beta of 0.61.

Camden National (NASDAQ:CAC) last issued 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 net margin of 18.02% and a return on equity of 10.38%. During the same period in the prior year, the business posted $0.85 earnings per share. As a group, equities research analysts anticipate that Camden National will post 4.25 EPS for the current fiscal year.

Camden National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Tuesday, April 15th. Camden National’s dividend payout ratio is currently 46.41%.

Institutional Investors Weigh In On Camden National

Institutional investors have recently made changes to their positions in the stock. Bryn Mawr Capital Management LLC acquired a new position in shares of Camden National in the fourth quarter worth approximately $6,811,000. JPMorgan Chase & Co. lifted its position in shares of 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 purchasing an additional 99,097 shares during the period. Davis R M Inc. acquired a new position in shares of Camden National in the 4th quarter worth approximately $4,059,000. Franklin Resources Inc. boosted its stake in shares of Camden National by 7.4% in the 4th quarter. Franklin Resources Inc. now owns 1,311,526 shares of the financial services provider’s stock valued at $56,055,000 after purchasing an additional 90,485 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Camden National during the fourth quarter worth $1,727,000. 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.