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

Stock analysts at StockNews.com assumed coverage on shares of Camden National (NASDAQ:CAC) in a research note issued to investors on Tuesday. The brokerage set a “hold” rating on the financial services provider’s stock.

Several other analysts have also recently issued reports on CAC. Raymond James restated an “outperform” rating and set a $53.00 target price (up from $50.00) on shares of Camden National in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods upped their price objective 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.

Camden National Stock Performance

NASDAQ CAC opened at $45.80 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. Camden National has a 1-year low of $28.62 and a 1-year high of $50.07. The business has a 50 day simple moving average of $44.34 and a two-hundred day simple moving average of $42.09. The stock has a market capitalization of $667.76 million, a PE ratio of 12.65 and a beta of 0.77.

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, beating 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 period last year, the firm earned $0.85 earnings per share. On average, research analysts predict that Camden National will post 4.16 EPS for the current fiscal year.

Institutional Trading of Camden National

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning lifted its position in shares of Camden National by 65.4% during the second quarter. Creative Planning now owns 20,927 shares of the financial services provider’s stock worth $691,000 after purchasing an additional 8,274 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Camden National during the 2nd quarter valued at about $73,000. SG Americas Securities LLC boosted its position in Camden National by 58.1% in the 3rd quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock valued at $292,000 after buying an additional 2,602 shares during the period. Coston McIsaac & Partners boosted its position in Camden National by 18.6% in the 3rd quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock valued at $480,000 after buying an additional 1,819 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in Camden National by 194.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 33,344 shares of the financial services provider’s stock worth $1,378,000 after acquiring an additional 22,007 shares in the last quarter. 77.41% of the stock is owned by hedge funds and other institutional investors.

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.