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

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

Several other research firms have also recently commented on CAC. Raymond James raised Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Friday, December 20th. Keefe, Bruyette & Woods raised 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 Performance

Shares of NASDAQ:CAC opened at $42.83 on Thursday. The business’s 50 day moving average price is $45.14 and its 200-day moving average price is $40.06. Camden National has a 1 year low of $28.62 and a 1 year high of $50.07. 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 firm has a market capitalization of $624.33 million, a PE ratio of 13.38 and a beta of 0.75.

Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.11. The company had revenue of $75.13 million for the quarter, compared to analysts’ expectations of $43.90 million. Camden National had a net margin of 16.47% and a return on equity of 9.95%. During the same quarter in the previous year, the company posted $0.96 EPS. As a group, equities research analysts expect that Camden National will post 3.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Camden National

Several large investors have recently bought and sold shares of the stock. Rhumbline Advisers boosted its stake in shares of Camden National by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock valued at $762,000 after buying an additional 319 shares during the period. US Bancorp DE lifted its stake in Camden National by 2.9% in the third quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock worth $461,000 after acquiring an additional 319 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Camden National by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock worth $4,876,000 after acquiring an additional 674 shares in the last quarter. Apollon Wealth Management LLC increased its position in shares of Camden National by 3.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider’s stock valued at $1,258,000 after purchasing an additional 900 shares during the last quarter. Finally, Coston McIsaac & Partners raised its holdings in shares of Camden National by 18.6% in the 3rd quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock valued at $480,000 after purchasing an additional 1,819 shares in the last quarter. 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.