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

Research analysts at StockNews.com began coverage on shares of Camden National (NASDAQ:CAC - Get Free Report) in a report issued on Saturday. The firm set a "hold" rating on the financial services provider's stock.

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods lifted their target price on Camden National from $48.00 to $50.00 and gave the stock a "market perform" rating in a report on Wednesday, January 29th. Raymond James reaffirmed an "outperform" rating and set a $53.00 price objective (up from $50.00) on shares of Camden National in a report on Wednesday, January 29th.

Camden National Price Performance

Shares of CAC traded down $0.25 during trading hours on Friday, reaching $39.36. 74,067 shares of the stock traded hands, compared to its average volume of 67,347. 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 has a 52-week low of $30.78 and a 52-week high of $50.07. The company's 50-day moving average price is $39.71 and its two-hundred day moving average price is $42.88. The company has a market cap of $664.63 million, a P/E ratio of 10.87 and a beta of 0.64.

Camden National (NASDAQ:CAC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.04). The business had revenue of $60.05 million during the quarter, compared to the consensus estimate of $57.63 million. Camden National had a return on equity of 10.38% and a net margin of 18.02%. On average, analysts anticipate that Camden National will post 4.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CAC. CWM LLC boosted its stake in shares of Camden National by 65.4% during the 1st quarter. CWM LLC now owns 837 shares of the financial services provider's stock worth $34,000 after purchasing an additional 331 shares during the period. Aquatic Capital Management LLC purchased a new stake in shares of Camden National in the fourth quarter worth approximately $44,000. Federated Hermes Inc. bought a new stake in shares of Camden National during the 4th quarter worth approximately $46,000. Nisa Investment Advisors LLC boosted its holdings 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 acquiring an additional 1,850 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in Camden National in the 4th quarter valued at $103,000. 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.