Camden National (NASDAQ:CAC) Coverage Initiated by Analysts at StockNews.com

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

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

Camden National Stock Up 1.5 %

Shares of NASDAQ:CAC opened at $41.31 on Friday. The stock has a market cap of $696.69 million, a P/E ratio of 11.41 and a beta of 0.73. The firm has a fifty day moving average price of $43.57 and a 200 day moving average price of $43.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. Camden National has a 1-year low of $28.62 and a 1-year 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 EPS for the quarter, topping 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 quarter in the prior year, the company posted $0.85 earnings per share. Sell-side analysts predict that Camden National will post 4.25 EPS for the current year.

Camden National Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were issued a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.07%. Camden National’s dividend payout ratio is presently 46.41%.

Hedge Funds Weigh In On Camden National

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its position in Camden National by 7.4% during the fourth quarter. Franklin Resources Inc. now owns 1,311,526 shares of the financial services provider’s stock worth $56,055,000 after acquiring an additional 90,485 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Camden National by 1.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 858,979 shares of the financial services provider’s stock worth $36,713,000 after buying an additional 15,822 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Camden National by 1.2% during the third quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock worth $14,236,000 after buying an additional 4,067 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Camden National by 12.6% during the fourth quarter. JPMorgan Chase & Co. now owns 319,794 shares of the financial services provider’s stock worth $13,668,000 after buying an additional 35,883 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Camden National by 2.7% during the fourth quarter. Renaissance Technologies LLC now owns 289,800 shares of the financial services provider’s stock worth $12,386,000 after buying an additional 7,500 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.