Camden National (NASDAQ:CAC) Coverage Initiated at Wall Street Zen

Wall Street Zen assumed coverage on shares of Camden National (NASDAQ:CAC - Get Free Report) in a report issued on Monday. The firm set a "hold" rating on the financial services provider's stock.

A number of other equities analysts also recently weighed in on CAC. Keefe, Bruyette & Woods decreased their target price on shares of Camden National from $48.00 to $47.00 and set a "market perform" rating for the company in a research note on Wednesday, May 7th. Raymond James reaffirmed an "outperform" rating and set a $53.00 target price (up previously from $50.00) on shares of Camden National in a research note on Wednesday, January 29th.

Camden National Stock Down 0.7%

Shares of NASDAQ CAC traded down $0.28 on Monday, reaching $39.32. 56,489 shares of the company's stock traded hands, compared to its average volume of 68,925. Camden National has a 12 month low of $30.78 and a 12 month high of $50.07. The business's 50 day simple moving average is $39.32 and its two-hundred day simple moving average is $42.70. The company has a market cap of $663.96 million, a price-to-earnings ratio of 10.86 and a beta of 0.64. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08.

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

Institutional Investors Weigh In On Camden National

A number of institutional investors have recently made changes to their positions in the company. LPL Financial LLC grew its holdings in shares of Camden National by 3.8% during the fourth quarter. LPL Financial LLC now owns 6,982 shares of the financial services provider's stock valued at $298,000 after buying an additional 257 shares during the last quarter. US Bancorp DE grew its holdings in shares of Camden National by 2.8% during the fourth quarter. US Bancorp DE now owns 11,474 shares of the financial services provider's stock valued at $490,000 after buying an additional 308 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Camden National by 4.1% during the first quarter. HighTower Advisors LLC now owns 7,811 shares of the financial services provider's stock valued at $316,000 after buying an additional 311 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Camden National by 4.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,264 shares of the financial services provider's stock worth $353,000 after purchasing an additional 330 shares during the last quarter. Finally, CWM LLC boosted its holdings in Camden National by 65.4% in the first 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 last quarter. 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.