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

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

Several other equities research analysts also recently weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Raymond James raised Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a report on Friday, December 20th.

Camden National Stock Up 0.4 %

Shares of Camden National stock opened at $42.99 on Thursday. Camden National has a 1-year low of $28.62 and a 1-year high of $50.07. The company has a market capitalization of $626.67 million, a PE ratio of 13.43 and a beta of 0.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. The business has a 50-day moving average of $45.11 and a 200-day moving average of $39.93.

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 the consensus estimate of $0.83 by $0.11. The company had revenue of $75.13 million for the quarter, compared to the consensus estimate of $43.90 million. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same period in the previous year, the business earned $0.96 EPS. As a group, equities analysts forecast that Camden National will post 3.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Camden National

Several institutional investors and hedge funds have recently bought and sold shares of CAC. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Camden National in the third quarter worth $659,000. Kimelman & Baird LLC bought a new position in shares of Camden National during the second quarter worth about $4,943,000. Creative Planning increased its holdings in shares of Camden National by 65.3% in the 3rd quarter. Creative Planning now owns 34,590 shares of the financial services provider’s stock worth $1,429,000 after acquiring an additional 13,663 shares during the period. Segall Bryant & Hamill LLC bought a new stake in Camden National in the 3rd quarter valued at about $1,729,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Camden National by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock valued at $4,876,000 after purchasing an additional 674 shares during the period. Institutional investors and hedge funds 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.