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

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

CAC has been the topic of a number of other reports. Keefe, Bruyette & Woods upped their target price on shares of Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a report on Wednesday, September 11th. Stephens upped their target price on shares of Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd.

Camden National Price Performance

Shares of NASDAQ CAC opened at $47.96 on Friday. The company has a fifty day moving average price of $42.55 and a 200 day moving average price of $37.82. Camden National has a 1-year low of $28.62 and a 1-year high of $50.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. The firm has a market cap of $699.26 million, a PE ratio of 14.99 and a beta of 0.72.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. Camden National had a net margin of 16.47% and a return on equity of 9.95%. The company had revenue of $75.13 million during the quarter, compared to the consensus estimate of $43.90 million. During the same period in the prior year, the business posted $0.96 EPS. Research analysts predict that Camden National will post 3.45 earnings per share for the current fiscal year.

Camden National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.50%. Camden National’s dividend payout ratio is 52.50%.

Institutional Trading of Camden National

Several large investors have recently made changes to their positions in CAC. Price T Rowe Associates Inc. MD boosted its position in shares of Camden National by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,271 shares of the financial services provider’s stock worth $546,000 after acquiring an additional 4,907 shares in the last quarter. Clean Yield Group boosted its position in Camden National by 14.5% in the first quarter. Clean Yield Group now owns 92,421 shares of the financial services provider’s stock valued at $3,098,000 after buying an additional 11,672 shares in the last quarter. Bank of New York Mellon Corp boosted its position 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 valued at $3,001,000 after buying an additional 3,937 shares in the last quarter. Signaturefd LLC boosted its position in Camden National by 30.9% in the second quarter. Signaturefd LLC now owns 50,491 shares of the financial services provider’s stock valued at $1,666,000 after buying an additional 11,924 shares in the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in Camden National in the second quarter valued at approximately $757,000. Institutional investors and hedge funds 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.