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

StockNews.com initiated coverage on shares of Camden National (NASDAQ:CAC) in a research report sent to investors on Wednesday. The brokerage issued a hold rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods increased their target price on shares of Camden National from $43.00 to $48.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Camden National Stock Down 5.1 %

Camden National stock opened at $42.65 on Wednesday. The business’s 50-day moving average price is $44.99 and its 200 day moving average price is $39.58. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. The firm has a market cap of $621.71 million, a price-to-earnings ratio of 13.33 and a beta of 0.75. Camden National has a 52 week low of $28.62 and a 52 week high of $50.07.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. Camden National had a net margin of 16.47% and a return on equity of 9.95%. The business had revenue of $75.13 million during the quarter, compared to the consensus estimate of $43.90 million. During the same quarter in the prior year, the firm posted $0.96 earnings per share. As a group, sell-side analysts anticipate that Camden National will post 3.49 earnings per share for the current year.

Camden National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Wednesday, January 15th. Camden National’s dividend payout ratio (DPR) is currently 52.50%.

Institutional Investors Weigh In On Camden National

Large investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in Camden National during the second quarter worth approximately $73,000. SG Americas Securities LLC lifted its position in shares of Camden National by 58.1% during the 3rd quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock worth $292,000 after buying an additional 2,602 shares during the last quarter. Inspire Investing LLC acquired a new position in shares of Camden National in the 2nd quarter valued at $349,000. US Bancorp DE raised its stake in Camden National by 2.9% during the 3rd 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 in the last quarter. Finally, Coston McIsaac & Partners lifted its position in Camden National by 18.6% in the third quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock valued at $480,000 after acquiring an additional 1,819 shares during the last quarter. 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.