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

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

Other analysts also recently issued research reports about the company. Raymond James restated an “outperform” rating and set a $53.00 target price (up previously from $50.00) on shares of Camden National in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods increased their price target on shares of Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, January 29th.

Camden National Trading Up 0.3 %

NASDAQ:CAC opened at $41.43 on Friday. The stock has a fifty day simple moving average of $43.56 and a 200 day simple moving average of $43.11. 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 capitalization of $698.72 million, a price-to-earnings ratio of 11.44 and a beta of 0.73. Camden National has a 1-year low of $28.62 and a 1-year high of $50.07.

Camden National (NASDAQ:CAC) last released its quarterly earnings data 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 period in the prior year, the company earned $0.85 EPS. Sell-side analysts forecast that Camden National will post 4.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Empowered Funds LLC grew its holdings in shares of Camden National by 5.2% during the third quarter. Empowered Funds LLC now owns 37,892 shares of the financial services provider’s stock worth $1,566,000 after purchasing an additional 1,876 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in Camden National during the 3rd quarter worth about $1,729,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Camden National in the 3rd quarter valued at about $659,000. Charles Schwab Investment Management Inc. raised its stake in shares of Camden National by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock worth $4,876,000 after acquiring an additional 674 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Camden National by 15.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,778 shares of the financial services provider’s stock worth $1,148,000 after purchasing an additional 3,682 shares in the last quarter. Institutional investors own 77.41% of the company’s stock.

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.