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

StockNews.com initiated coverage on shares of Camden National (NASDAQ:CAC) in a research report sent to investors on Sunday. The firm issued a hold rating on the financial services provider’s stock.

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

Camden National Stock Performance

NASDAQ:CAC opened at $44.05 on Friday. Camden National has a fifty-two week low of $28.62 and a fifty-two week high of $50.07. The firm’s 50 day moving average is $45.05 and its two-hundred day moving average is $41.29. The company has a market cap of $642.25 million, a P/E ratio of 13.77 and a beta of 0.76. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.11. Camden National had a return on equity of 9.95% and a net margin of 16.47%. The business had revenue of $75.13 million for the quarter, compared to analyst estimates of $43.90 million. During the same period last year, the company posted $0.96 EPS. Analysts expect that Camden National will post 3.49 EPS for the current year.

Camden National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Wednesday, January 15th. Camden National’s payout ratio is 52.50%.

Institutional Investors Weigh In On Camden National

Several hedge funds have recently modified their holdings of CAC. Dimensional Fund Advisors LP grew its position in Camden National by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock valued at $27,605,000 after acquiring an additional 26,450 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Camden National by 1.2% in 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 period. JPMorgan Chase & Co. boosted its stake in shares of Camden National by 53.6% in the third quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock valued at $11,731,000 after purchasing an additional 99,097 shares during the period. Renaissance Technologies LLC grew its holdings in Camden National by 1.3% during the 2nd quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock valued at $9,313,000 after purchasing an additional 3,600 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Camden National by 11.1% during the 2nd quarter. American Century Companies Inc. now owns 182,690 shares of the financial services provider’s stock worth $6,029,000 after buying an additional 18,294 shares during the period. 77.41% of the stock is currently owned by hedge funds and other institutional investors.

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.