Camden National (NASDAQ:CAC) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Camden National (NASDAQ:CAC) in a report released on Friday. The brokerage set a “hold” rating on the financial services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods lifted their price target on shares of Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a research note on Wednesday, September 11th. Stephens lifted their target price on shares of Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd.

Camden National Trading Up 1.8 %

CAC stock opened at $47.90 on Friday. Camden National has a 52-week low of $28.62 and a 52-week high of $50.05. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.09. The firm has a market cap of $697.90 million, a P/E ratio of 14.97 and a beta of 0.72. The company’s 50-day simple moving average is $40.73 and its 200-day simple moving average is $36.68.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. Camden National had a return on equity of 10.09% and a net margin of 16.47%. The company had revenue of $75.13 million for the quarter, compared to the consensus estimate of $43.90 million. During the same quarter in the prior year, the business posted $0.96 earnings per share. As a group, equities analysts forecast that Camden National will post 3.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings 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 buying an additional 26,450 shares in the last quarter. Renaissance Technologies LLC grew its stake in Camden National by 1.3% during the 2nd quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock valued at $9,313,000 after acquiring an additional 3,600 shares in the last quarter. ProShare Advisors LLC raised its holdings in Camden National by 13.2% in the 1st quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock valued at $8,027,000 after acquiring an additional 28,007 shares during the last quarter. LSV Asset Management lifted its stake in Camden National by 8.4% in the 2nd quarter. LSV Asset Management now owns 238,595 shares of the financial services provider’s stock worth $7,874,000 after purchasing an additional 18,517 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Camden National by 11.1% in the 2nd quarter. American Century Companies Inc. now owns 182,690 shares of the financial services provider’s stock worth $6,029,000 after purchasing an additional 18,294 shares in the last quarter. 77.41% of the stock is owned by institutional investors and hedge funds.

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.