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

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

CAC has been the subject of a number of other reports. Keefe, Bruyette & Woods lifted 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 reaffirmed an “outperform” rating and set a $53.00 target price (up previously from $50.00) on shares of Camden National in a report on Wednesday, January 29th.

Camden National Trading Up 2.4 %

Shares of Camden National stock opened at $42.01 on Monday. The stock has a market cap of $708.50 million, a P/E ratio of 11.60 and a beta of 0.73. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. Camden National has a 12-month low of $28.62 and a 12-month high of $50.07. The business’s 50 day moving average is $43.54 and its 200-day moving average is $43.20.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results 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 return on equity of 10.38% and a net margin of 18.02%. During the same quarter in the previous year, the company earned $0.85 earnings per share. Equities research analysts predict that Camden National will post 4.25 earnings per share for the current fiscal year.

Institutional Trading of Camden National

A number of institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in Camden National by 53.6% during the third 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 in the last quarter. Barclays PLC grew its stake in shares of Camden National by 38.9% during the third quarter. Barclays PLC now owns 48,339 shares of the financial services provider’s stock worth $1,998,000 after buying an additional 13,542 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Camden National during the third quarter worth $659,000. Geode Capital Management LLC lifted its stake in shares of Camden National by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock valued at $14,236,000 after acquiring an additional 4,067 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 valued at $4,876,000 after acquiring an additional 674 shares in the last quarter. 77.41% of the stock is currently owned by 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.