Camden National (NASDAQ:CAC) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Camden National (NASDAQ:CAC) in a research report sent to investors on Sunday morning. The brokerage issued a hold rating on the financial services provider’s stock.

A number of other brokerages have also recently commented on CAC. 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 increased their price target on Camden National from $40.00 to $41.00 and gave the company a market perform rating in a report on Wednesday, September 11th.

Camden National Stock Performance

NASDAQ CAC opened at $40.08 on Friday. The stock has a market capitalization of $585.45 million, a price-to-earnings ratio of 13.32 and a beta of 0.72. The stock has a 50-day moving average of $38.69 and a 200 day moving average of $34.44. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. Camden National has a twelve month low of $26.52 and a twelve month high of $43.44.

Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.10. Camden National had a return on equity of 10.36% and a net margin of 16.01%. The business had revenue of $72.81 million during the quarter, compared to the consensus estimate of $41.07 million. During the same period in the prior year, the company posted $0.85 EPS. Sell-side analysts anticipate that Camden National will post 3.33 EPS for the current fiscal year.

Camden National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.42 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.68 annualized dividend and a yield of 4.19%. Camden National’s dividend payout ratio (DPR) is 55.81%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Kimelman & Baird LLC purchased a new stake in shares of Camden National in the 2nd quarter valued at approximately $4,943,000. Signaturefd LLC lifted its stake in Camden National by 2,990.3% during the first quarter. Signaturefd LLC now owns 38,567 shares of the financial services provider’s stock worth $1,293,000 after purchasing an additional 37,319 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Camden National by 13.2% during the first quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock worth $8,027,000 after buying an additional 28,007 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Camden National by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock valued at $27,605,000 after buying an additional 26,450 shares in the last quarter. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Camden National in the 2nd quarter valued at $757,000. 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.