Camden National (NASDAQ:CAC) Earns Hold Rating from Analysts at StockNews.com

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

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

Camden National Trading Up 1.8 %

Shares of CAC stock traded up $0.84 on Friday, hitting $47.90. The stock had a trading volume of 44,535 shares, compared to its average volume of 51,062. The firm has a market cap of $698.14 million, a P/E ratio of 14.97 and a beta of 0.72. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The company has a fifty day moving average price of $40.73 and a two-hundred day moving average price of $36.64. Camden National has a twelve month low of $28.62 and a twelve month high of $50.05.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.11. The company had revenue of $75.13 million during the quarter, compared to the consensus estimate of $43.90 million. Camden National had a net margin of 16.47% and a return on equity of 10.09%. During the same quarter in the prior year, the firm earned $0.96 earnings per share. As a group, analysts forecast that Camden National will post 3.45 earnings per share for the current fiscal year.

Camden National Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Tuesday, October 15th. Camden National’s dividend payout ratio (DPR) is presently 52.50%.

Institutional Investors Weigh In On Camden National

Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in Camden National by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock valued at $27,605,000 after acquiring an additional 26,450 shares during the last quarter. Renaissance Technologies LLC raised its position in Camden National by 1.3% in the second 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 during the last quarter. ProShare Advisors LLC boosted its stake in shares of Camden National by 13.2% during the first quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock valued at $8,027,000 after purchasing an additional 28,007 shares in the last quarter. LSV Asset Management grew its holdings in shares of Camden National by 8.4% during the second quarter. LSV Asset Management now owns 238,595 shares of the financial services provider’s stock worth $7,874,000 after purchasing an additional 18,517 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Camden National by 11.1% in the second quarter. American Century Companies Inc. now owns 182,690 shares of the financial services provider’s stock valued at $6,029,000 after buying an additional 18,294 shares during the period. 77.41% of the stock is currently 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.