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

Research analysts at StockNews.com began coverage on shares of Camden National (NASDAQ:CAC) in a research report issued on Wednesday. The brokerage set a “hold” rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the stock. Raymond James reaffirmed an “outperform” rating and set a $53.00 target price (up from $50.00) on shares of Camden National in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods increased their price objective on shares of Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th.

Camden National Stock Performance

Shares of CAC stock opened at $44.72 on Wednesday. Camden National has a one year low of $28.62 and a one year high of $50.07. The firm’s 50 day moving average price is $44.13 and its 200-day moving average price is $42.33. The firm has a market cap of $652.02 million, a P/E ratio of 12.35 and a beta of 0.77. 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 (NASDAQ:CAC) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.14. Camden National had a net margin of 18.02% and a return on equity of 10.38%. During the same quarter in the prior year, the company posted $0.85 EPS. As a group, equities research analysts predict that Camden National will post 4.25 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Dean Investment Associates LLC boosted its stake in Camden National by 5.3% during the 4th quarter. Dean Investment Associates LLC now owns 69,060 shares of the financial services provider’s stock worth $2,952,000 after purchasing an additional 3,503 shares during the period. Raymond James Financial Inc. acquired a new stake in Camden National during the 4th quarter worth $210,000. Renaissance Technologies LLC boosted its stake in Camden National by 2.7% during the 4th quarter. Renaissance Technologies LLC now owns 289,800 shares of the financial services provider’s stock worth $12,386,000 after purchasing an additional 7,500 shares during the period. Invesco Ltd. boosted its stake in Camden National by 8.0% during the 4th quarter. Invesco Ltd. now owns 35,511 shares of the financial services provider’s stock worth $1,518,000 after purchasing an additional 2,624 shares during the period. Finally, Federated Hermes Inc. acquired a new stake in Camden National during the 4th quarter worth $46,000. 77.41% of the stock is owned by hedge funds and other institutional investors.

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.