Camden National (NASDAQ:CAC) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Camden National (NASDAQ:CAC) in a research report report published on Thursday morning. The firm issued a hold rating on the financial services provider’s stock.

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

Camden National Trading Up 0.9 %

CAC opened at $37.74 on Thursday. The company’s 50 day moving average is $40.87 and its 200-day moving average is $43.02. The company has a market cap of $637.28 million, a P/E ratio of 10.43 and a beta of 0.61. Camden National has a 1-year low of $30.04 and a 1-year high of $50.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08.

Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.14. Camden National had a net margin of 18.02% and a return on equity of 10.38%. During the same quarter in the previous year, the firm earned $0.85 EPS. Equities research analysts predict that Camden National will post 4.25 earnings per share for the current fiscal year.

Camden National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be given a $0.42 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.45%. Camden National’s dividend payout ratio (DPR) is presently 46.41%.

Hedge Funds Weigh In On Camden National

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. increased its position in Camden National by 7.4% during the 4th quarter. Franklin Resources Inc. now owns 1,311,526 shares of the financial services provider’s stock valued at $56,055,000 after purchasing an additional 90,485 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Camden National by 1.9% during the fourth 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 raised its stake in Camden National by 1.2% during the third quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock worth $14,236,000 after buying an additional 4,067 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Camden National by 12.6% in the fourth quarter. JPMorgan Chase & Co. now owns 319,794 shares of the financial services provider’s stock valued at $13,668,000 after buying an additional 35,883 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Camden National by 2.7% during the fourth quarter. Renaissance Technologies LLC now owns 289,800 shares of the financial services provider’s stock valued at $12,386,000 after acquiring an additional 7,500 shares during the last quarter. 77.41% of the stock is owned by institutional investors and hedge funds.

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.