Camden National (NASDAQ:CAC) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Camden National (NASDAQ:CAC) in a report issued on Friday. The firm set a “hold” rating on the financial services provider’s stock.

Other research analysts have also recently issued reports about the stock. Raymond James upgraded 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 report on Friday, December 20th. 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 research note on Wednesday, December 4th.

Camden National Stock Down 0.4 %

CAC stock opened at $42.08 on Friday. The firm has a market capitalization of $613.40 million, a PE ratio of 13.15 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 has a twelve month low of $28.62 and a twelve month high of $50.07. The stock’s 50 day moving average is $45.31 and its 200-day moving average is $40.43.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, beating 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 analysts’ expectations of $43.90 million. During the same period last year, the business earned $0.96 EPS. Sell-side analysts expect that Camden National will post 3.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of 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 purchasing an additional 26,450 shares during the period. Geode Capital Management LLC grew its stake in Camden National by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock valued at $14,236,000 after buying an additional 4,067 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Camden National by 53.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock valued at $11,731,000 after acquiring an additional 99,097 shares during the period. Renaissance Technologies LLC lifted its position in shares of Camden National by 1.3% during the second quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock worth $9,313,000 after acquiring an additional 3,600 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in shares of Camden National by 8.4% in the second quarter. LSV Asset Management now owns 238,595 shares of the financial services provider’s stock worth $7,874,000 after acquiring an additional 18,517 shares during the period. Hedge funds and other 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.