Camden National (NASDAQ:CAC) Coverage Initiated by Analysts at StockNews.com

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

CAC has been the topic of several other research reports. Stephens boosted their price target on Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Keefe, Bruyette & Woods boosted their price objective on 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 Price Performance

Shares of CAC stock opened at $40.18 on Wednesday. The stock’s fifty day simple moving average is $39.74 and its 200 day simple moving average is $35.65. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.81. The firm has a market cap of $586.91 million, a price-to-earnings ratio of 13.35 and a beta of 0.72. Camden National has a one year low of $27.28 and a one year high of $43.50.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.71 by $0.10. The business had revenue of $72.81 million for the quarter, compared to analyst estimates of $41.07 million. Camden National had a return on equity of 10.36% and a net margin of 16.01%. During the same quarter in the previous year, the firm earned $0.85 EPS. On average, analysts expect that Camden National will post 3.34 earnings per share for the current fiscal year.

Camden National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend is Tuesday, October 15th. Camden National’s dividend payout ratio is currently 55.81%.

Hedge Funds Weigh In On Camden National

Institutional investors and hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Camden National during the second quarter worth $73,000. BNP Paribas Financial Markets raised its position in shares of Camden National by 89.3% during the first quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 3,330 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Camden National by 58.1% during the third quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock worth $292,000 after acquiring an additional 2,602 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of Camden National during the second quarter worth $349,000. Finally, Coston McIsaac & Partners raised its position in shares of Camden National by 18.6% during the third quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock worth $480,000 after acquiring an additional 1,819 shares during the last quarter. Institutional investors and hedge funds own 77.41% of the company’s stock.

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.