StockNews.com Begins Coverage on Camden National (NASDAQ:CAC)

StockNews.com initiated coverage on shares of Camden National (NASDAQ:CAC) in a report issued on Sunday. The brokerage set a “hold” rating on the financial services provider’s stock.

Several other equities analysts have also issued reports on CAC. Raymond James reissued an “outperform” rating and issued a $53.00 price target (up previously from $50.00) on shares of Camden National in a report on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their target price on Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th.

Camden National Trading Up 0.3 %

NASDAQ:CAC opened at $41.43 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. Camden National has a 1-year low of $28.62 and a 1-year high of $50.07. The firm has a market capitalization of $698.72 million, a price-to-earnings ratio of 11.44 and a beta of 0.73. The business’s 50-day moving average price is $43.56 and its two-hundred day moving average price is $43.11.

Camden National (NASDAQ:CAC) last announced its quarterly 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 in the prior year, the business posted $0.85 EPS. On average, equities analysts expect that Camden National will post 4.25 earnings per share for the current year.

Institutional Investors Weigh In On Camden National

Institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC increased its holdings in Camden National by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 37,892 shares of the financial services provider’s stock worth $1,566,000 after purchasing an additional 1,876 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Camden National during the third quarter worth about $1,729,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Camden National during the third quarter worth about $659,000. Charles Schwab Investment Management Inc. raised its position in Camden National by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock valued at $4,876,000 after buying an additional 674 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Camden National by 15.3% in 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 valued at $1,148,000 after buying an additional 3,682 shares during the last quarter. 77.41% of the stock is owned by 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.