Camden National (NASDAQ:CAC) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Camden National (NASDAQ:CAC) in a report released on Monday. The firm issued a hold rating on the financial services provider’s stock.

Several other brokerages also recently issued reports on CAC. Keefe, Bruyette & Woods boosted their price objective on Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 29th. Raymond James reaffirmed an “outperform” rating and issued a $53.00 price objective (up previously from $50.00) on shares of Camden National in a research note on Wednesday, January 29th.

Camden National Stock Down 0.1 %

CAC opened at $41.50 on Monday. Camden National has a one year low of $28.62 and a one year high of $50.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The business’s fifty day moving average is $43.45 and its two-hundred day moving average is $43.21. The company has a market cap of $699.90 million, a price-to-earnings ratio of 11.46 and a beta of 0.73.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping 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 company posted $0.85 EPS. Analysts anticipate that Camden National will post 4.25 EPS for the current fiscal year.

Camden National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Tuesday, April 15th. Camden National’s dividend payout ratio (DPR) is presently 46.41%.

Institutional Investors Weigh In On Camden National

Several institutional investors and hedge funds have recently made changes to their positions in CAC. Franklin Resources Inc. raised its position in Camden National by 7.4% in the 4th quarter. Franklin Resources Inc. now owns 1,311,526 shares of the financial services provider’s stock worth $56,055,000 after purchasing an additional 90,485 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Camden National by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 858,979 shares of the financial services provider’s stock worth $36,713,000 after buying an additional 15,822 shares during the period. Geode Capital Management LLC boosted its stake in Camden National by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock worth $14,236,000 after purchasing an additional 4,067 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Camden National by 12.6% during the fourth quarter. JPMorgan Chase & Co. now owns 319,794 shares of the financial services provider’s stock worth $13,668,000 after buying an additional 35,883 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Camden National by 2.7% in the fourth quarter. Renaissance Technologies LLC now owns 289,800 shares of the financial services provider’s stock valued at $12,386,000 after purchasing an additional 7,500 shares during the last quarter. Institutional investors and hedge funds 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.