Equities researchers at StockNews.com assumed coverage on shares of Camden National (NASDAQ:CAC – Get Free Report) in a report released on Saturday. The brokerage set a “hold” rating on the financial services provider’s stock.
Other research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods raised their target price on Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Raymond James upgraded shares of Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Friday, December 20th.
Check Out Our Latest Research Report on CAC
Camden National Stock Performance
Camden National (NASDAQ:CAC – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (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 firm had revenue of $75.13 million for the quarter, compared to analyst estimates of $43.90 million. During the same period in the previous year, the company posted $0.96 earnings per share. Equities research analysts anticipate that Camden National will post 3.49 earnings per share for the current year.
Hedge Funds Weigh In On Camden National
Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in Camden National by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 90,944 shares of the financial services provider’s stock worth $3,001,000 after purchasing an additional 3,937 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Camden National by 1.4% in the second quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock valued at $762,000 after buying an additional 319 shares during the last quarter. American Century Companies Inc. lifted its position in Camden National by 11.1% during the 2nd 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 in the last quarter. Cornercap Investment Counsel Inc. bought a new stake in Camden National during the 2nd quarter worth about $578,000. Finally, Dimensional Fund Advisors LP increased its position in Camden National by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock valued at $27,605,000 after acquiring an additional 26,450 shares in the last quarter. 77.41% of the stock is owned by institutional investors.
About Camden National
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.
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