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

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

Several other brokerages have also recently issued reports on CAC. Keefe, Bruyette & Woods raised their price objective on Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th. Raymond James restated an “outperform” rating and issued a $53.00 price target (up from $50.00) on shares of Camden National in a research report on Wednesday, January 29th.

Camden National Stock Performance

Shares of Camden National stock opened at $41.79 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. Camden National has a 1 year low of $28.62 and a 1 year high of $50.07. The firm’s 50-day simple moving average is $43.56 and its 200-day simple moving average is $43.13. The firm has a market cap of $704.79 million, a PE ratio of 11.54 and a beta of 0.73.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the company earned $0.85 EPS. Equities analysts forecast that Camden National will post 4.25 earnings per share for the current fiscal year.

Institutional Trading of Camden National

Several hedge funds have recently made changes to their positions in the stock. LPL Financial LLC grew its stake in Camden National by 3.8% during the 4th quarter. LPL Financial LLC now owns 6,982 shares of the financial services provider’s stock worth $298,000 after buying an additional 257 shares during the last quarter. US Bancorp DE grew its position in shares of Camden National by 2.8% during the fourth quarter. US Bancorp DE now owns 11,474 shares of the financial services provider’s stock worth $490,000 after acquiring an additional 308 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Camden National by 4.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,264 shares of the financial services provider’s stock worth $353,000 after acquiring an additional 330 shares during the period. Rhumbline Advisers lifted its position in Camden National by 1.8% in the 4th quarter. Rhumbline Advisers now owns 23,204 shares of the financial services provider’s stock valued at $992,000 after purchasing an additional 415 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Camden National by 4.9% during the 4th quarter. First Trust Advisors LP now owns 9,248 shares of the financial services provider’s stock valued at $395,000 after purchasing an additional 431 shares during the period. 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.