Camden National (NASDAQ:CAC) Now Covered by Analysts at StockNews.com

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

Several other equities analysts have also weighed in on CAC. Keefe, Bruyette & Woods raised their price objective on shares of Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th. Raymond James restated an “outperform” rating and set a $53.00 target price (up from $50.00) on shares of Camden National in a report on Wednesday, January 29th.

Camden National Price Performance

Shares of NASDAQ:CAC opened at $37.42 on Thursday. The stock has a market cap of $631.09 million, a price-to-earnings ratio of 10.34 and a beta of 0.61. 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 12 month low of $28.62 and a 12 month high of $50.07. The stock’s 50 day moving average price is $41.17 and its 200 day moving average price is $43.03.

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 the consensus estimate 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 period last year, the business earned $0.85 earnings per share. Equities research analysts anticipate that Camden National will post 4.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Bryn Mawr Capital Management LLC acquired a new position in Camden National in the 4th quarter worth approximately $6,811,000. JPMorgan Chase & Co. boosted its position in shares of Camden National by 53.6% in the third quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock worth $11,731,000 after buying an additional 99,097 shares during the period. Davis R M Inc. acquired a new stake in shares of Camden National in the fourth quarter worth $4,059,000. Franklin Resources Inc. grew its holdings in shares of 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 valued at $56,055,000 after buying an additional 90,485 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Camden National during the fourth quarter valued at $1,727,000. 77.41% of the stock is owned by hedge funds and other 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.