Camden National (NASDAQ:CAC) Now Covered by StockNews.com

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

Other analysts have also issued reports about the company. Stephens raised their target price on Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a research note 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 company a “market perform” rating in a research report on Wednesday, September 11th.

Camden National Trading Down 2.1 %

Shares of Camden National stock opened at $40.18 on Friday. Camden National has a 12-month low of $26.52 and a 12-month high of $43.44. The stock has a market capitalization of $586.91 million, a P/E ratio of 13.35 and a beta of 0.72. The company has a 50-day simple moving average of $38.51 and a 200 day simple moving average of $34.18. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.09.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Kimelman & Baird LLC bought a new position in shares of Camden National in the 2nd quarter worth $4,943,000. Northwestern Mutual Wealth Management Co. bought a new position in Camden National during the second quarter worth about $73,000. Creative Planning grew its position in shares of Camden National by 65.4% during the 2nd quarter. Creative Planning now owns 20,927 shares of the financial services provider’s stock worth $691,000 after buying an additional 8,274 shares during the period. Inspire Investing LLC bought a new stake in shares of Camden National in the 2nd quarter valued at about $349,000. Finally, Renaissance Technologies LLC raised its position in shares of Camden National by 1.3% in the 2nd quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock valued at $9,313,000 after acquiring an additional 3,600 shares during the period. 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.