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

StockNews.com assumed coverage on shares of Camden National (NASDAQ:CAC) in a report published on Sunday. The brokerage issued a hold rating on the financial services provider’s stock.

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

Camden National Trading Up 0.9 %

NASDAQ CAC opened at $41.79 on Friday. The company has a 50-day moving average of $43.56 and a 200-day moving average of $43.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. Camden National has a 12 month low of $28.62 and a 12 month high of $50.07. The company has a market cap of $704.79 million, a P/E ratio of 11.54 and a beta of 0.73.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, topping 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 quarter last year, the business earned $0.85 earnings per share. As a group, equities analysts predict that Camden National will post 4.25 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Camden National in the fourth quarter worth about $1,727,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Camden National by 23.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,322 shares of the financial services provider’s stock worth $1,467,000 after acquiring an additional 6,544 shares in the last quarter. Rafferty Asset Management LLC boosted its holdings in Camden National by 20.6% in the 4th quarter. Rafferty Asset Management LLC now owns 11,917 shares of the financial services provider’s stock worth $509,000 after acquiring an additional 2,032 shares during the period. Occudo Quantitative Strategies LP grew its position in Camden National by 8.6% in the fourth quarter. Occudo Quantitative Strategies LP now owns 6,118 shares of the financial services provider’s stock valued at $261,000 after acquiring an additional 485 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Camden National by 4.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,264 shares of the financial services provider’s stock valued at $353,000 after purchasing an additional 330 shares during the period. 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.