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

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

Other equities analysts have also issued reports about the company. Keefe, Bruyette & Woods upped their target price on Camden National from $43.00 to $48.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Raymond James raised Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Friday, December 20th.

Camden National Price Performance

Shares of NASDAQ CAC opened at $41.51 on Friday. 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 fifty-two week low of $28.62 and a fifty-two week high of $50.07. The business has a 50 day moving average price of $45.29 and a two-hundred day moving average price of $40.91. The firm has a market cap of $605.09 million, a PE ratio of 12.97 and a beta of 0.76.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.11. The company had revenue of $75.13 million during the quarter, compared to analyst estimates of $43.90 million. Camden National had a net margin of 16.47% and a return on equity of 9.95%. During the same period last year, the business earned $0.96 EPS. Sell-side analysts expect that Camden National will post 3.49 earnings per share for the current fiscal year.

Institutional Trading of Camden National

Several hedge funds and other institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Camden National during the 2nd quarter valued at $73,000. SG Americas Securities LLC lifted its stake in Camden National by 58.1% in the third quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock valued at $292,000 after acquiring an additional 2,602 shares during the last quarter. Inspire Investing LLC bought a new stake in Camden National in the second quarter worth approximately $349,000. US Bancorp DE increased its stake in shares of 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 purchasing an additional 319 shares during the last quarter. Finally, Coston McIsaac & Partners raised its holdings in shares of Camden National by 18.6% during 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. Institutional investors and hedge funds own 77.41% of the company’s stock.

About Camden National

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.