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

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

Several other equities analysts also recently issued reports on CAC. Keefe, Bruyette & Woods upped 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 note on Wednesday, September 11th. Stephens raised their price target on Camden National from $35.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd.

Camden National Trading Up 2.6 %

CAC opened at $47.96 on Friday. The business’s 50-day simple moving average is $42.55 and its 200-day simple moving average is $37.78. The company has a market cap of $699.26 million, a P/E ratio of 14.99 and a beta of 0.72. Camden National has a one year low of $28.62 and a one year high of $50.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82.

Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. Camden National had a net margin of 16.47% and a return on equity of 9.95%. The company had revenue of $75.13 million for the quarter, compared to analysts’ expectations of $43.90 million. During the same quarter last year, the company earned $0.96 earnings per share. As a group, equities research analysts expect that Camden National will post 3.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Camden National

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its position in Camden National by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,271 shares of the financial services provider’s stock worth $546,000 after acquiring an additional 4,907 shares during the period. Clean Yield Group lifted its holdings in shares of Camden National by 14.5% during the first quarter. Clean Yield Group now owns 92,421 shares of the financial services provider’s stock worth $3,098,000 after purchasing an additional 11,672 shares during the period. Bank of New York Mellon Corp grew its position in Camden National by 4.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 90,944 shares of the financial services provider’s stock valued at $3,001,000 after buying an additional 3,937 shares during the last quarter. Signaturefd LLC increased its stake in Camden National by 30.9% in the 2nd quarter. Signaturefd LLC now owns 50,491 shares of the financial services provider’s stock valued at $1,666,000 after buying an additional 11,924 shares during the period. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Camden National in the 2nd quarter worth $757,000. 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.