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

by · The Markets Daily

Equities researchers at StockNews.com began coverage on shares of Camden National (NASDAQ:CAC – Get Free Report) in a research note issued on Monday. The firm set a “hold” rating on the financial services provider’s stock.

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

Read Our Latest Analysis on Camden National

Camden National Stock Performance

Camden National stock opened at $46.24 on Monday. The firm’s 50 day simple moving average is $43.62 and its 200-day simple moving average is $38.57. The company has a market cap of $674.18 million, a P/E ratio of 14.45 and a beta of 0.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. Camden National has a fifty-two week low of $28.62 and a fifty-two week high of $50.07.

Camden National (NASDAQ:CAC – Get Free Report) last released its earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.11. The business had revenue of $75.13 million for the quarter, compared to the consensus estimate of $43.90 million. Camden National had a net margin of 16.47% and a return on equity of 9.95%. During the same period last year, the firm posted $0.96 earnings per share. As a group, equities research analysts predict that Camden National will post 3.45 EPS for the current year.

Institutional Trading of Camden National

Several large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Camden National by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,271 shares of the financial services provider’s stock worth $546,000 after buying an additional 4,907 shares during the period. Bank of New York Mellon Corp boosted its holdings in Camden National by 4.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 90,944 shares of the financial services provider’s stock valued at $3,001,000 after purchasing an additional 3,937 shares during the period. Signaturefd LLC boosted its holdings in Camden National by 30.9% in the 2nd quarter. Signaturefd LLC now owns 50,491 shares of the financial services provider’s stock valued at $1,666,000 after purchasing an additional 11,924 shares during the period. Hantz Financial Services Inc. bought a new stake in Camden National in the 2nd quarter valued at $757,000. Finally, Rhumbline Advisers boosted its holdings in Camden National by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock valued at $762,000 after purchasing an additional 319 shares during the period. 77.41% of the stock is owned by institutional investors.

About Camden National

(Get Free Report)

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.

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