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

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

Separately, Keefe, Bruyette & Woods increased their target price on shares of Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 11th.

Camden National Trading Down 2.0 %

Shares of CAC stock opened at $46.24 on Monday. Camden National has a 52-week low of $28.62 and a 52-week high of $50.07. The stock has a market cap of $674.18 million, a price-to-earnings ratio of 14.45 and a beta of 0.75. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a fifty day moving average of $43.62 and a 200-day moving average of $38.57.

Camden National (NASDAQ:CAC) last announced its 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. The business had revenue of $75.13 million during the quarter, compared to analysts’ expectations of $43.90 million. Camden National had a net margin of 16.47% and a return on equity of 9.95%. During the same quarter last year, the company posted $0.96 EPS. On average, equities research analysts forecast that Camden National will post 3.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Rhumbline Advisers boosted its stake in Camden National by 1.4% during the 2nd quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock worth $762,000 after acquiring an additional 319 shares during the last quarter. US Bancorp DE boosted its stake in Camden National by 2.9% during the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock worth $461,000 after acquiring an additional 319 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Camden National by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock worth $4,876,000 after acquiring an additional 674 shares during the last quarter. Apollon Wealth Management LLC boosted its stake in Camden National by 3.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider’s stock worth $1,258,000 after acquiring an additional 900 shares during the last quarter. Finally, Coston McIsaac & Partners boosted its stake in Camden National by 18.6% during the 3rd quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock worth $480,000 after acquiring an additional 1,819 shares during the last quarter. Institutional investors own 77.41% of the company’s stock.

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.