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

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

A number of other equities analysts also recently commented on CAC. Raymond James reissued an “outperform” rating and set a $53.00 price objective (up from $50.00) on shares of Camden National in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their price target on shares of Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th.

Camden National Stock Performance

Shares of Camden National stock opened at $43.09 on Thursday. The stock has a market capitalization of $628.25 million, a price-to-earnings ratio of 11.90 and a beta of 0.77. 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 $43.91 and a 200 day moving average of $42.51. Camden National has a 12 month low of $28.62 and a 12 month high of $50.07.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company earned $0.85 earnings per share. As a group, sell-side analysts forecast that Camden National will post 4.25 earnings per share for the current year.

Institutional Investors Weigh In On Camden National

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bryn Mawr Capital Management LLC acquired a new stake in shares of Camden National in the fourth quarter valued at approximately $6,811,000. JPMorgan Chase & Co. raised its position in Camden National by 53.6% in the 3rd 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 last quarter. Davis R M Inc. acquired a new stake in Camden National during the 4th quarter worth $4,059,000. Franklin Resources Inc. grew its position in Camden National by 7.4% during the 4th quarter. Franklin Resources Inc. now owns 1,311,526 shares of the financial services provider’s stock worth $56,055,000 after purchasing an additional 90,485 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in Camden National in the third quarter valued at $1,729,000. 77.41% of the stock is 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.