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

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

Separately, Keefe, Bruyette & Woods increased their price objective on shares of Camden National from $43.00 to $48.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Camden National Trading Down 0.8 %

Shares of CAC stock opened at $42.29 on Wednesday. The stock’s 50-day moving average price is $45.03 and its 200-day moving average price is $39.59. Camden National has a 12-month low of $28.62 and a 12-month high of $50.07. The stock has a market capitalization of $616.46 million, a price-to-earnings ratio of 13.22 and a beta of 0.75. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08.

Camden National (NASDAQ:CAC) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $43.90 million. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same quarter in the previous year, the company posted $0.96 EPS. Equities research analysts predict that Camden National will post 3.49 EPS for the current fiscal year.

Institutional Trading of Camden National

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Camden National in the third quarter valued at $659,000. Kimelman & Baird LLC bought a new stake in Camden National in the second quarter worth about $4,943,000. Creative Planning boosted its position in shares of Camden National by 65.3% during the third quarter. Creative Planning now owns 34,590 shares of the financial services provider’s stock valued at $1,429,000 after buying an additional 13,663 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of Camden National during the third quarter valued at approximately $1,729,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Camden National by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock worth $4,876,000 after buying an additional 674 shares during the period. Hedge funds and other institutional investors own 77.41% of the company’s stock.

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.