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

StockNews.com assumed coverage on shares of Camden National (NASDAQ:CAC - Free Report) in a report issued on Friday morning. The firm issued a hold rating on the financial services provider's stock.

A number of other research firms have also issued reports on CAC. Keefe, Bruyette & Woods raised their price target 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 reiterated an "outperform" rating and issued a $53.00 target price (up previously from $50.00) on shares of Camden National in a report on Wednesday, January 29th.

Camden National Stock Performance

Shares of NASDAQ:CAC traded down $0.70 during trading on Friday, hitting $38.52. 90,990 shares of the stock traded hands, compared to its average volume of 67,034. The company has a fifty day moving average price of $40.05 and a two-hundred day moving average price of $42.96. Camden National has a 52-week low of $30.78 and a 52-week high of $50.07. The company has a market cap of $650.45 million, a price-to-earnings ratio of 10.64 and a beta of 0.61. 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 issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.14. Camden National had a net margin of 18.02% and a return on equity of 10.38%. During the same period last year, the company posted $0.85 EPS. As a group, equities analysts predict that Camden National will post 4.25 EPS for the current year.

Camden National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Tuesday, April 15th. Camden National's dividend payout ratio is 46.41%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in Camden National by 53.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider's stock worth $11,731,000 after buying an additional 99,097 shares in the last quarter. Barclays PLC boosted its position in shares of Camden National by 38.9% during the 3rd quarter. Barclays PLC now owns 48,339 shares of the financial services provider's stock worth $1,998,000 after acquiring an additional 13,542 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Camden National by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider's stock valued at $14,236,000 after purchasing an additional 4,067 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Camden National by 26.5% during the fourth quarter. SG Americas Securities LLC now owns 8,952 shares of the financial services provider's stock worth $383,000 after purchasing an additional 1,875 shares during the last quarter. Finally, Federated Hermes Inc. bought a new position in Camden National during the 4th quarter worth $46,000. 77.41% of the stock is currently owned by 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.