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

StockNews.com began coverage on shares of Camden National (NASDAQ:CAC) in a research note released on Wednesday. The firm issued a hold rating on the financial services provider’s stock.

A number of other research analysts also recently weighed in on CAC. Stephens increased their price target 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 increased their target price on Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a report on Wednesday, September 11th.

Camden National Stock Performance

Shares of CAC stock opened at $41.19 on Wednesday. Camden National has a 1-year low of $26.52 and a 1-year high of $43.50. 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 capitalization of $601.66 million, a price-to-earnings ratio of 13.68 and a beta of 0.72. The stock’s fifty day simple moving average is $39.61 and its 200-day simple moving average is $35.56.

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

Camden National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.68 annualized dividend and a yield of 4.08%. Camden National’s dividend payout ratio (DPR) is currently 55.81%.

Institutional Investors Weigh In On Camden National

Hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. acquired a new stake in Camden National in the 2nd quarter valued at about $73,000. BNP Paribas Financial Markets lifted its position in Camden National by 89.3% during the first quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 3,330 shares during the last quarter. SG Americas Securities LLC lifted its position in Camden National by 58.1% during the third quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock worth $292,000 after acquiring an additional 2,602 shares during the last quarter. Inspire Investing LLC acquired a new stake in Camden National during the second quarter worth approximately $349,000. Finally, Coston McIsaac & Partners lifted its position in Camden National by 18.6% during the third quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock worth $480,000 after acquiring an additional 1,819 shares during the last quarter. 77.41% of the stock is currently owned by institutional investors and hedge funds.

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.