Camden National (NASDAQ:CAC) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Camden National (NASDAQ:CAC) from a hold rating to a buy rating in a report published on Thursday, BidAskClub reports.

A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Camden National from a hold rating to a sell rating in a research note on Tuesday, August 6th. ValuEngine raised shares of Camden National from a sell rating to a hold rating in a research note on Thursday, August 1st.

CAC traded down $0.52 during trading on Thursday, hitting $44.79. 55,400 shares of the company traded hands, compared to its average volume of 33,329. The stock’s fifty day moving average is $43.66 and its 200 day moving average is $43.64. The firm has a market cap of $698.97 million, a P/E ratio of 13.21 and a beta of 0.77. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.15. Camden National has a one year low of $33.49 and a one year high of $47.25.

Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.05. The business had revenue of $42.66 million for the quarter. Camden National had a net margin of 27.02% and a return on equity of 12.40%.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Friday, October 11th. Camden National’s payout ratio is currently 35.40%.

A number of hedge funds and other institutional investors have recently modified their holdings of CAC. Bank of Montreal Can grew its position in Camden National by 3,142.9% during the second quarter. Bank of Montreal Can now owns 2,043 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 1,980 shares during the last quarter. Susquehanna International Group LLP bought a new position in Camden National during the second quarter valued at approximately $246,000. D. E. Shaw & Co. Inc. bought a new position in Camden National during the second quarter valued at approximately $272,000. Citadel Advisors LLC bought a new position in Camden National during the second quarter valued at approximately $356,000. Finally, Aperio Group LLC grew its position in Camden National by 40.8% during the second quarter. Aperio Group LLC now owns 8,465 shares of the financial services provider’s stock valued at $388,000 after acquiring an additional 2,451 shares during the last quarter. Institutional investors and hedge funds own 67.35% of the company’s stock.

Camden National Company Profile

Camden National Corporation operates as the holding company for Camden National Bank that provides commercial and consumer banking products and services to consumer, institutional, municipal, non-profit, and commercial customers. It offers various deposit products, including demand, checking, saving, and money market accounts; and time deposits, as well as certificates of deposit.

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