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

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

A number of other equities analysts have also recently issued reports on CAC. Keefe, Bruyette & Woods boosted 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. Stephens boosted their price objective 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.

Camden National Stock Down 5.1 %

Shares of NASDAQ:CAC opened at $47.06 on Friday. The firm has a fifty day moving average price of $40.57 and a two-hundred day moving average price of $36.52. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.81. Camden National has a one year low of $28.62 and a one year high of $50.05. The company has a market cap of $685.66 million, a price-to-earnings ratio of 14.71 and a beta of 0.72.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. The company had revenue of $75.13 million during the quarter, compared to the consensus estimate of $43.90 million. Camden National had a net margin of 16.47% and a return on equity of 10.09%. During the same period in the previous year, the firm posted $0.96 EPS. Analysts anticipate that Camden National will post 3.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers increased its holdings in Camden National by 1.4% during the second quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock valued at $762,000 after buying an additional 319 shares during the last quarter. US Bancorp DE raised its position in shares of Camden National by 2.9% during the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock valued at $461,000 after purchasing an additional 319 shares during the period. Apollon Wealth Management LLC grew its stake in Camden National by 3.0% during the third quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider’s stock valued at $1,258,000 after acquiring an additional 900 shares in the last quarter. Coston McIsaac & Partners grew its stake 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 valued at $480,000 after acquiring an additional 1,819 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Camden National by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 37,892 shares of the financial services provider’s stock worth $1,566,000 after buying an additional 1,876 shares in the last quarter. 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.