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

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

Several other analysts 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 target price for the company in a research note on Friday, December 20th. Keefe, Bruyette & Woods raised their price objective on Camden National from $43.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Camden National Price Performance

CAC stock opened at $42.08 on Friday. The stock has a 50-day simple moving average of $45.31 and a 200-day simple moving average of $40.49. The firm has a market cap of $613.40 million, a P/E ratio of 13.15 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. Camden National has a 1 year low of $28.62 and a 1 year high of $50.07.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. The company had revenue of $75.13 million for the quarter, compared to analyst estimates of $43.90 million. Camden National had a net margin of 16.47% and a return on equity of 9.95%. During the same quarter last year, the firm posted $0.96 earnings per share. On average, equities analysts predict that Camden National will post 3.49 earnings per share for the current fiscal year.

Camden National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.42 per share. The ex-dividend date is Wednesday, January 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.99%. Camden National’s dividend payout ratio (DPR) is 52.50%.

Hedge Funds Weigh In On Camden National

A number of hedge funds and other institutional investors have recently bought and sold shares of CAC. Rhumbline Advisers boosted its holdings in shares of Camden National by 1.4% during the second quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock valued at $762,000 after acquiring an additional 319 shares during the period. US Bancorp DE lifted its position in Camden National by 2.9% in the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock valued at $461,000 after purchasing an additional 319 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Camden National by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock valued at $4,876,000 after purchasing an additional 674 shares during the period. Apollon Wealth Management LLC grew its position in Camden National by 3.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider’s stock worth $1,258,000 after purchasing an additional 900 shares during the last quarter. Finally, Coston McIsaac & Partners increased its stake in shares of Camden National by 18.6% in the third quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock valued at $480,000 after purchasing an additional 1,819 shares during the period. 77.41% of the stock is currently owned by institutional investors and hedge funds.

About Camden National

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.