Camden National (NASDAQ:CAC) Now Covered by StockNews.com

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

Separately, Keefe, Bruyette & Woods lifted their target price on Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 11th.

Camden National Price Performance

Shares of CAC stock opened at $47.11 on Monday. The firm has a fifty day moving average of $43.33 and a two-hundred day moving average of $38.38. The firm has a market cap of $686.86 million, a P/E ratio of 14.72 and a beta of 0.72. Camden National has a 1-year low of $28.62 and a 1-year high of $50.07. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82.

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

Hedge Funds Weigh In On Camden National

A number of large investors have recently bought and sold shares of CAC. Geode Capital Management LLC grew its holdings in shares of Camden National by 1.2% during the third quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock valued at $14,236,000 after purchasing an additional 4,067 shares during the last quarter. Barclays PLC boosted its position in Camden National by 38.9% during the 3rd quarter. Barclays PLC now owns 48,339 shares of the financial services provider’s stock valued at $1,998,000 after purchasing an additional 13,542 shares during the period. Dean Investment Associates LLC grew its stake in Camden National by 36.8% during the 3rd quarter. Dean Investment Associates LLC now owns 65,557 shares of the financial services provider’s stock worth $2,709,000 after buying an additional 17,632 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Camden National by 15.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,778 shares of the financial services provider’s stock worth $1,148,000 after buying an additional 3,682 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Camden National by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock valued at $4,876,000 after buying an additional 674 shares during the last quarter. 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.