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

by · The Markets Daily

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

Other research analysts also recently issued research reports about the company. Stephens boosted their price target on 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 upped their price objective on Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a research note on Wednesday, September 11th.

Get Our Latest Research Report on CAC

Camden National Trading Up 0.4 %

Shares of NASDAQ:CAC opened at $39.66 on Monday. 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 52-week low of $26.52 and a 52-week high of $43.44. The company has a 50-day simple moving average of $38.67 and a 200 day simple moving average of $34.85. The company has a market capitalization of $579.31 million, a P/E ratio of 13.18 and a beta of 0.72.

Camden National (NASDAQ:CAC – Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.10. Camden National had a net margin of 16.01% and a return on equity of 10.36%. The firm had revenue of $72.81 million during the quarter, compared to the consensus estimate of $41.07 million. During the same period last year, the business posted $0.85 earnings per share. Sell-side analysts forecast that Camden National will post 3.33 earnings per share for the current year.

Hedge Funds Weigh In On Camden National

A number of institutional investors and hedge funds have recently modified their holdings of CAC. Northwestern Mutual Wealth Management Co. bought a new stake in Camden National in the second quarter valued at $73,000. BNP Paribas Financial Markets boosted its position in shares of Camden National by 89.3% during the first quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock valued at $237,000 after buying an additional 3,330 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Camden National by 58.1% in the 3rd quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock worth $292,000 after acquiring an additional 2,602 shares in the last quarter. Inspire Investing LLC purchased a new stake in Camden National in the 2nd quarter valued at about $349,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Camden National by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,271 shares of the financial services provider’s stock worth $546,000 after acquiring an additional 4,907 shares during the period. 77.41% of the stock is currently 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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