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

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

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

Camden National Price Performance

Camden National stock opened at $41.32 on Friday. The company’s 50 day simple moving average is $38.69 and its 200-day simple moving average is $34.46. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.82. Camden National has a 1 year low of $26.52 and a 1 year high of $43.44. The company has a market capitalization of $603.56 million, a price-to-earnings ratio of 13.73 and a beta of 0.72.

Camden National (NASDAQ:CAC) last released its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.10. The company had revenue of $72.81 million for the quarter, compared to analysts’ expectations of $41.07 million. Camden National had a return on equity of 10.36% and a net margin of 16.01%. During the same period in the prior year, the firm earned $0.85 earnings per share. As a group, equities research analysts expect that Camden National will post 3.33 earnings per share for the current year.

Institutional Trading of Camden National

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kimelman & Baird LLC purchased a new stake in shares of Camden National during the 2nd quarter worth approximately $4,943,000. Signaturefd LLC boosted its stake in Camden National by 2,990.3% in the first quarter. Signaturefd LLC now owns 38,567 shares of the financial services provider’s stock valued at $1,293,000 after acquiring an additional 37,319 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Camden National by 13.2% during the first quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock worth $8,027,000 after purchasing an additional 28,007 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Camden National by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock worth $27,605,000 after purchasing an additional 26,450 shares in the last quarter. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Camden National in the 2nd quarter valued at about $757,000. 77.41% of the stock is currently owned by institutional investors and hedge funds.

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.