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

Analysts at StockNews.com started coverage on shares of Camden National (NASDAQ:CAC) in a research report issued to clients and investors on Tuesday. The firm set a “hold” rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods increased their target price on Camden National from $43.00 to $48.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Camden National Stock Up 0.5 %

CAC opened at $46.80 on Tuesday. The company has a fifty day moving average of $44.44 and a two-hundred day moving average of $39.13. The stock has a market capitalization of $682.34 million, a price-to-earnings ratio of 14.63 and a beta of 0.75. Camden National has a fifty-two week low of $28.62 and a fifty-two week high of $50.07. 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 (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.11. The firm had revenue of $75.13 million during the quarter, compared to analyst estimates of $43.90 million. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same quarter in the previous year, the business earned $0.96 EPS. On average, research analysts expect that Camden National will post 3.49 earnings per share for the current year.

Hedge Funds Weigh In On Camden National

Several hedge funds and other institutional investors have recently made changes to their positions in CAC. Geode Capital Management LLC raised its position in shares of Camden National by 1.2% in the third quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock valued at $14,236,000 after buying an additional 4,067 shares during the last quarter. Barclays PLC raised its holdings in Camden National by 38.9% in the 3rd quarter. Barclays PLC now owns 48,339 shares of the financial services provider’s stock valued at $1,998,000 after acquiring an additional 13,542 shares during the last quarter. Dean Investment Associates LLC lifted its stake in Camden National by 36.8% in the 3rd quarter. Dean Investment Associates LLC now owns 65,557 shares of the financial services provider’s stock worth $2,709,000 after purchasing an additional 17,632 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Camden National by 15.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,778 shares of the financial services provider’s stock worth $1,148,000 after purchasing an additional 3,682 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Camden National by 0.6% in the third 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 in the last quarter. Hedge funds and other institutional investors own 77.41% of the company’s stock.

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.