Keefe, Bruyette & Woods Boosts Camden National (NASDAQ:CAC) Price Target to $48.00

Camden National (NASDAQ:CAC) had its price target raised by research analysts at Keefe, Bruyette & Woods from $43.00 to $48.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 2.56% from the stock’s previous close.

Separately, StockNews.com assumed coverage on shares of Camden National in a report on Monday. They set a “hold” rating for the company.

Camden National Stock Down 0.8 %

CAC stock opened at $46.80 on Wednesday. The business’s fifty day moving average price is $43.91 and its two-hundred day moving average price is $38.69. The stock has a market capitalization of $682.34 million, a price-to-earnings ratio of 14.63 and a beta of 0.75. Camden National has a fifty-two week low of $28.62 and a fifty-two week high of $50.07. 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 (NASDAQ:CAC) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. Camden National had a net margin of 16.47% and a return on equity of 9.95%. The firm had revenue of $75.13 million for the quarter, compared to analyst estimates of $43.90 million. During the same quarter in the prior year, the business posted $0.96 EPS. On average, equities analysts anticipate that Camden National will post 3.45 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in shares of Camden National by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock valued at $27,605,000 after purchasing an additional 26,450 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Camden National by 1.2% in the third quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock valued at $14,236,000 after buying an additional 4,067 shares during the period. Renaissance Technologies LLC boosted its position in Camden National by 1.3% during the second quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock valued at $9,313,000 after acquiring an additional 3,600 shares during the last quarter. LSV Asset Management grew its holdings in Camden National by 8.4% during the 2nd quarter. LSV Asset Management now owns 238,595 shares of the financial services provider’s stock worth $7,874,000 after acquiring an additional 18,517 shares during the period. Finally, American Century Companies Inc. grew its holdings in Camden National by 11.1% during the 2nd quarter. American Century Companies Inc. now owns 182,690 shares of the financial services provider’s stock worth $6,029,000 after acquiring an additional 18,294 shares during the period. 77.41% of the stock is owned by institutional investors and hedge funds.

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.