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

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

Several other brokerages also recently weighed in on CAC. Raymond James upgraded Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Friday, December 20th. Keefe, Bruyette & Woods increased their target price on 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 Price Performance

Shares of CAC stock opened at $44.80 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 twelve month low of $28.62 and a twelve month high of $50.07. The company has a market cap of $653.18 million, a P/E ratio of 14.00 and a beta of 0.76. The business has a fifty day simple moving average of $44.94 and a 200 day simple moving average of $41.37.

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. Camden National had a return on equity of 9.95% and a net margin of 16.47%. The business had revenue of $75.13 million during the quarter, compared to the consensus estimate of $43.90 million. During the same period in the prior year, the company earned $0.96 EPS. On average, sell-side analysts forecast that Camden National will post 3.49 EPS for the current fiscal year.

Camden National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.75%. Camden National’s dividend payout ratio (DPR) is 52.50%.

Hedge Funds Weigh In On Camden National

A number of hedge funds have recently made changes to their positions in CAC. Nisa Investment Advisors LLC grew its stake in Camden National by 18,500.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 1,850 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in Camden National during the second quarter worth approximately $73,000. SG Americas Securities LLC grew its stake in Camden National by 58.1% during the third quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 2,602 shares during the period. Clark & Stuart Inc acquired a new stake in Camden National during the fourth quarter worth approximately $434,000. Finally, Inspire Investing LLC acquired a new stake in Camden National during the second quarter worth approximately $349,000. 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.