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

Equities researchers at StockNews.com started coverage on shares of Camden National (NASDAQ:CAC) in a research report issued to clients and investors on Wednesday. The brokerage set a “hold” rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the stock. Stephens increased their target price on shares of Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods raised their price objective on shares of Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 11th.

Camden National Trading Down 0.2 %

Shares of NASDAQ:CAC opened at $41.09 on Wednesday. Camden National has a 52 week low of $26.52 and a 52 week high of $43.50. The company’s 50 day moving average is $39.69 and its two-hundred day moving average is $35.60. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The company has a market cap of $600.20 million, a PE ratio of 13.65 and a beta of 0.72.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.10. Camden National had a net margin of 16.01% and a return on equity of 10.36%. The company had revenue of $72.81 million for the quarter, compared to the consensus estimate of $41.07 million. During the same period in the prior year, the firm posted $0.85 EPS. Equities analysts predict that Camden National will post 3.34 earnings per share for the current fiscal year.

Institutional Trading of Camden National

A number of institutional investors have recently added to or reduced their stakes in CAC. Northwestern Mutual Wealth Management Co. purchased a new stake in Camden National during the second quarter worth about $73,000. BNP Paribas Financial Markets lifted its holdings in shares of Camden National by 89.3% in the first quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 3,330 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Camden National by 58.1% in the third quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 2,602 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of Camden National in the second quarter valued at about $349,000. Finally, Coston McIsaac & Partners lifted its holdings in shares of Camden National by 18.6% in the third quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock valued at $480,000 after purchasing an additional 1,819 shares in the last quarter. Hedge funds and other 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.