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

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

A number of other brokerages have also recently issued reports on CAC. Raymond James reissued an “outperform” rating and issued a $53.00 target price (up previously from $50.00) on shares of Camden National in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods cut their price objective on shares of Camden National from $48.00 to $47.00 and set a “market perform” rating for the company in a report on Wednesday.

Camden National Stock Performance

Shares of CAC stock opened at $39.92 on Friday. Camden National has a 52 week low of $30.78 and a 52 week high of $50.07. The company has a market capitalization of $674.09 million, a price-to-earnings ratio of 11.03 and a beta of 0.64. The company has a 50-day simple moving average of $39.41 and a 200 day simple moving average of $42.83. 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, May 6th. The financial services provider reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.04). The firm had revenue of $60.05 million for the quarter, compared to the consensus estimate of $57.63 million. Camden National had a return on equity of 10.38% and a net margin of 18.02%. On average, sell-side analysts predict that Camden National will post 4.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CAC. CWM LLC boosted its holdings in shares of Camden National by 65.4% in the 1st quarter. CWM LLC now owns 837 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 331 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in shares of Camden National during the 4th quarter worth $44,000. Federated Hermes Inc. acquired a new stake in Camden National in the fourth quarter valued at about $46,000. Eastern Bank bought a new position in Camden National in the first quarter valued at about $50,000. Finally, Nisa Investment Advisors LLC raised its stake in Camden National by 18,500.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock worth $79,000 after acquiring an additional 1,850 shares in the last quarter. Institutional investors and hedge funds 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.