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

StockNews.com started coverage on shares of Camden National (NASDAQ:CAC) in a research note published on Monday morning. The brokerage issued a hold rating on the financial services provider’s stock.

CAC has been the subject of a number of other reports. Raymond James reaffirmed an “outperform” rating and issued a $53.00 price objective (up from $50.00) on shares of Camden National in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods upped their price target on shares of 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 Down 0.1 %

CAC stock opened at $41.50 on Monday. The company’s 50-day simple moving average is $43.45 and its 200 day simple moving average is $43.21. Camden National has a 52 week low of $28.62 and a 52 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. The company has a market capitalization of $699.90 million, a PE ratio of 11.46 and a beta of 0.73.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.14. Camden National had a return on equity of 10.38% and a net margin of 18.02%. During the same period in the previous year, the firm earned $0.85 EPS. As a group, sell-side analysts anticipate that Camden National will post 4.25 earnings per share for the current year.

Camden National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.68 dividend on an annualized basis and a yield of 4.05%. Camden National’s dividend payout ratio (DPR) is 46.41%.

Hedge Funds Weigh In On Camden National

Several large investors have recently modified their holdings of the stock. LPL Financial LLC increased its position in Camden National by 3.8% during the fourth quarter. LPL Financial LLC now owns 6,982 shares of the financial services provider’s stock valued at $298,000 after acquiring an additional 257 shares during the last quarter. US Bancorp DE boosted its stake in shares of Camden National by 2.8% in the fourth quarter. US Bancorp DE now owns 11,474 shares of the financial services provider’s stock worth $490,000 after acquiring an additional 308 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Camden National by 4.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,264 shares of the financial services provider’s stock valued at $353,000 after buying an additional 330 shares in the last quarter. Rhumbline Advisers increased its holdings in Camden National by 1.8% in the 4th quarter. Rhumbline Advisers now owns 23,204 shares of the financial services provider’s stock valued at $992,000 after acquiring an additional 415 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in Camden National by 4.9% during the 4th quarter. First Trust Advisors LP now owns 9,248 shares of the financial services provider’s stock valued at $395,000 after buying an additional 431 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.