Weiss Ratings Reaffirms "Hold (C)" Rating for Camden National (NASDAQ:CAC)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C)" rating for Camden National (NASDAQ:CAC), while other brokerages have varied on their ratings, with Stephens upgrading it to "overweight."
• The company's stock price currently trades at $37.78, with a 12-month price range between $34.53 and $50.07, reflecting a market capitalization of $639.15 million.
• Camden National reported earnings of $0.89 EPS for the last quarter, missing analysts' estimates by $0.23, while total revenue exceeded expectations at $69.82 million.

Camden National (NASDAQ:CAC - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by investment analysts at Weiss Ratings in a research report issued on Tuesday,Weiss Ratings reports.

Several other brokerages have also issued reports on CAC. Stephens raised Camden National from an "equal weight" rating to an "overweight" rating and decreased their target price for the company from $49.00 to $44.00 in a research report on Wednesday, August 6th. Zacks Research upgraded Camden National to a "hold" rating in a research note on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $48.00.

Camden National Stock Performance

Shares of Camden National stock traded up $0.77 during trading hours on Tuesday, hitting $37.78. 28,342 shares of the company's stock traded hands, compared to its average volume of 75,439. Camden National has a 12-month low of $34.53 and a 12-month high of $50.07. The stock has a market capitalization of $639.15 million, a price-to-earnings ratio of 11.93 and a beta of 0.64. The company has a fifty day simple moving average of $39.31 and a 200-day simple moving average of $39.58. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.81 and a quick ratio of 0.81.

Camden National (NASDAQ:CAC - Get Free Report) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.23). Camden National had a net margin of 14.77% and a return on equity of 10.19%. The business had revenue of $69.82 million for the quarter, compared to analysts' expectations of $61.04 million. Equities research analysts anticipate that Camden National will post 4.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CAC. CWM LLC raised its holdings in shares of Camden National by 65.4% in the 1st quarter. CWM LLC now owns 837 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 331 shares in the last quarter. Eastern Bank purchased a new stake in shares of Camden National in the 1st quarter valued at about $50,000. Trust Co. of Vermont raised its holdings in shares of Camden National by 330.2% in the 2nd quarter. Trust Co. of Vermont now owns 2,151 shares of the financial services provider's stock valued at $87,000 after acquiring an additional 1,651 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Camden National by 15.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,567 shares of the financial services provider's stock valued at $104,000 after acquiring an additional 350 shares in the last quarter. Finally, KLP Kapitalforvaltning AS raised its holdings in shares of Camden National by 29.2% in the 1st quarter. KLP Kapitalforvaltning AS now owns 3,100 shares of the financial services provider's stock valued at $125,000 after acquiring an additional 700 shares in the last quarter. Institutional investors own 77.41% of the company's stock.

About Camden National

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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