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

StockNews.com began coverage on shares of Camden National (NASDAQ:CAC) in a research note released on Monday morning. The brokerage issued a hold rating on the financial services provider’s stock.

CAC has been the topic of several other research reports. Keefe, Bruyette & Woods reduced their target price on shares of Camden National from $48.00 to $47.00 and set a “market perform” rating on the stock in a report on Wednesday, May 7th. Raymond James reaffirmed an “outperform” rating and set a $53.00 price objective (up from $50.00) on shares of Camden National in a research note on Wednesday, January 29th.

Camden National Price Performance

Shares of Camden National stock opened at $39.86 on Monday. The firm has a market capitalization of $673.08 million, a PE ratio of 11.01 and a beta of 0.64. 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 12 month low of $30.78 and a 12 month high of $50.07. The business’s 50-day moving average price is $39.40 and its 200-day moving average price is $42.79.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, May 6th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.04). The firm had revenue of $60.05 million during the quarter, compared to analysts’ expectations of $57.63 million. Camden National had a return on equity of 10.38% and a net margin of 18.02%. Sell-side analysts forecast that Camden National will post 4.25 EPS for the current fiscal year.

Camden National Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend was Tuesday, April 15th. Camden National’s payout ratio is 53.50%.

Institutional Investors Weigh In On Camden National

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC increased its position in shares of Camden National by 65.4% in the first quarter. CWM LLC now owns 837 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 331 shares during the period. Aquatic Capital Management LLC purchased a new position in Camden National during the 4th quarter valued at about $44,000. Federated Hermes Inc. bought a new position in Camden National during the 4th quarter valued at approximately $46,000. Eastern Bank purchased a new stake in Camden National in the 1st quarter worth approximately $50,000. Finally, Nisa Investment Advisors LLC lifted its holdings in Camden National by 18,500.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock worth $79,000 after buying an additional 1,850 shares during the period. 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.