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

Analysts at StockNews.com began coverage on shares of Camden National (NASDAQ:CAC) in a research note issued on Tuesday. The brokerage set a “hold” rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the company. Keefe, Bruyette & Woods increased their price target on Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, January 29th. Raymond James reiterated an “outperform” rating and issued a $53.00 target price (up previously from $50.00) on shares of Camden National in a report on Wednesday, January 29th.

Camden National Stock Down 2.1 %

Camden National stock opened at $44.41 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. Camden National has a 1-year low of $28.62 and a 1-year high of $50.07. The firm’s fifty day simple moving average is $44.47 and its 200-day simple moving average is $41.99. The company has a market capitalization of $647.50 million, a P/E ratio of 12.27 and a beta of 0.77.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.14. Camden National had a return on equity of 10.38% and a net margin of 18.02%. During the same period in the previous year, the company earned $0.85 earnings per share. Sell-side analysts forecast that Camden National will post 4.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in Camden National during the second quarter worth $73,000. Nisa Investment Advisors LLC increased its stake in Camden National by 18,500.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 1,850 shares during the period. Foundations Investment Advisors LLC acquired a new position in Camden National in the fourth quarter worth about $280,000. SG Americas Securities LLC lifted its stake 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 purchasing an additional 2,602 shares during the period. Finally, Clark & Stuart Inc acquired a new stake in Camden National during the fourth quarter valued at approximately $434,000. 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.