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

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

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

Camden National Trading Down 5.1 %

Shares of Camden National stock opened at $42.65 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. The firm has a market cap of $621.71 million, a price-to-earnings ratio of 13.33 and a beta of 0.75. Camden National has a 52-week low of $28.62 and a 52-week high of $50.07. The company’s 50-day simple moving average is $44.99 and its 200-day simple moving average is $39.58.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.83 by $0.11. Camden National had a return on equity of 9.95% and a net margin of 16.47%. The business had revenue of $75.13 million during the quarter, compared to analysts’ expectations of $43.90 million. During the same period last year, the firm earned $0.96 EPS. As a group, equities research analysts anticipate that Camden National will post 3.49 earnings per share for the current year.

Camden National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be given a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.94%. Camden National’s dividend payout ratio is presently 52.50%.

Institutional Trading of Camden National

Several large investors have recently modified their holdings of CAC. Dimensional Fund Advisors LP boosted its stake in shares of Camden National by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock worth $27,605,000 after purchasing an additional 26,450 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Camden National by 1.2% during the third quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock worth $14,236,000 after purchasing an additional 4,067 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of 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 period. LSV Asset Management increased its stake in Camden National by 8.4% in the second quarter. LSV Asset Management now owns 238,595 shares of the financial services provider’s stock valued at $7,874,000 after purchasing an additional 18,517 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Camden National by 11.1% during the second quarter. American Century Companies Inc. now owns 182,690 shares of the financial services provider’s stock worth $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.