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 Sunday. The firm issued a hold rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on the company. Stephens raised their price objective on Camden National from $35.00 to $42.00 and gave the stock an equal weight rating in a report on Friday, August 2nd. Keefe, Bruyette & Woods raised their target price on Camden National from $40.00 to $41.00 and gave the company a market perform rating in a report on Wednesday, September 11th.

Camden National Stock Performance

Camden National stock opened at $39.06 on Friday. The stock’s 50-day moving average is $38.76 and its 200-day moving average is $34.53. The company has a market cap of $570.55 million, a price-to-earnings ratio of 12.98 and a beta of 0.72. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.81. Camden National has a 12 month low of $26.52 and a 12 month high of $43.44.

Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.10. The company had revenue of $72.81 million for the quarter, compared to the consensus estimate of $41.07 million. Camden National had a return on equity of 10.36% and a net margin of 16.01%. During the same period last year, the business posted $0.85 EPS. Equities analysts anticipate that Camden National will post 3.33 earnings per share for the current year.

Camden National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.68 annualized dividend and a dividend yield of 4.30%. Camden National’s payout ratio is currently 55.81%.

Institutional Investors Weigh In On Camden National

A number of hedge funds have recently bought and sold shares of the business. Rhumbline Advisers grew its stake in Camden National by 1.4% during the 2nd quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock valued at $762,000 after purchasing an additional 319 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in Camden National during the 2nd quarter valued at approximately $73,000. Empowered Funds LLC grew its stake in Camden National by 7.9% during the 1st quarter. Empowered Funds LLC now owns 33,496 shares of the financial services provider’s stock valued at $1,123,000 after purchasing an additional 2,450 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Camden National by 89.3% during the 1st quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 3,330 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Camden National by 1.3% during the 2nd quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock valued at $9,313,000 after purchasing an additional 3,600 shares in 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.