Camden National (NASDAQ:CAC) Research Coverage Started at StockNews.com

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

A number of other research firms also recently commented on CAC. Keefe, Bruyette & Woods boosted their price target on shares of Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 29th. Raymond James restated an “outperform” rating and issued a $53.00 target price (up from $50.00) on shares of Camden National in a research report on Wednesday, January 29th.

Camden National Stock Down 2.9 %

Shares of Camden National stock opened at $40.28 on Friday. The firm has a market cap of $587.16 million, a P/E ratio of 11.13 and a beta of 0.73. The business has a 50-day moving average price of $43.70 and a 200 day moving average price of $43.08. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. Camden National has a fifty-two week low of $28.62 and a fifty-two week high of $50.07.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate 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 last year, the firm posted $0.85 earnings per share. On average, sell-side analysts forecast that Camden National will post 4.25 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 15th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Wednesday, January 15th. Camden National’s payout ratio is presently 46.41%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its stake in shares of Camden National by 53.6% in the third quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock worth $11,731,000 after purchasing an additional 99,097 shares during the period. Barclays PLC grew its holdings in Camden National by 38.9% in the 3rd quarter. Barclays PLC now owns 48,339 shares of the financial services provider’s stock valued at $1,998,000 after buying an additional 13,542 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Camden National in the 3rd quarter worth approximately $659,000. Segall Bryant & Hamill LLC acquired a new position in shares of Camden National during the third quarter worth approximately $1,729,000. Finally, Geode Capital Management LLC boosted its position in shares of Camden National by 1.2% in the third quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock valued at $14,236,000 after acquiring an additional 4,067 shares during the period. 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.