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

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

A number of other analysts have also weighed in on the stock. Raymond James reissued an “outperform” rating and issued a $53.00 price objective (up from $50.00) on shares of Camden National in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods raised their price target on Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th.

Camden National Stock Down 1.4 %

NASDAQ CAC opened at $38.74 on Friday. The stock has a 50 day moving average price of $40.26 and a 200-day moving average price of $42.98. Camden National has a one year low of $30.11 and a one year high of $50.07. 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 company has a market capitalization of $654.16 million, a P/E ratio of 10.70 and a beta of 0.61.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.14. Camden National had a return on equity of 10.38% and a net margin of 18.02%. During the same quarter in the prior year, the company posted $0.85 EPS. As a group, equities analysts predict that Camden National will post 4.25 EPS for the current fiscal year.

Institutional Trading of Camden National

Hedge funds have recently added to or reduced their stakes in the business. Aquatic Capital Management LLC bought a new stake in shares of Camden National in the 4th quarter valued at about $44,000. Federated Hermes Inc. acquired a new stake in shares of Camden National during the fourth quarter worth $46,000. Nisa Investment Advisors LLC grew its stake in Camden National by 18,500.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock valued at $79,000 after purchasing an additional 1,850 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Camden National in the 4th quarter worth approximately $103,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Camden National in the 4th quarter valued at $106,000. 77.41% of the stock is owned by hedge funds and other institutional investors.

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.