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

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

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

Camden National Stock Performance

NASDAQ:CAC opened at $40.28 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $43.70 and a 200 day moving average price of $43.08. The firm has a market capitalization of $587.16 million, a PE ratio of 11.13 and a beta of 0.73. Camden National has a 12-month low of $28.62 and a 12-month high of $50.07.

Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping 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 last year, the business posted $0.85 EPS. Research analysts anticipate that Camden National will post 4.25 earnings per share for the current fiscal year.

Camden National Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 15th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Wednesday, January 15th. Camden National’s payout ratio is presently 46.41%.

Institutional Investors Weigh In On Camden National

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake 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 valued at $11,731,000 after buying an additional 99,097 shares during the last quarter. Barclays PLC grew its holdings in shares of Camden National by 38.9% in the 3rd quarter. Barclays PLC now owns 48,339 shares of the financial services provider’s stock valued at $1,998,000 after acquiring an additional 13,542 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Camden National in the third quarter valued at about $659,000. Segall Bryant & Hamill LLC bought a new stake in Camden National during the third quarter worth about $1,729,000. Finally, Geode Capital Management LLC boosted its position in Camden National by 1.2% during the third 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 during 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.