Camden National (NASDAQ:CAC) Price Target Raised to $55.00 at Keefe, Bruyette & Woods

Camden National (NASDAQ:CAC) had its target price hoisted by stock analysts at Keefe, Bruyette & Woods from $50.00 to $55.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential downside of 5.93% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Camden National in a report on Tuesday, June 9th. National Bank Financial set a $50.00 price target on Camden National in a report on Wednesday, April 29th. Finally, Raymond James Financial boosted their price target on Camden National from $56.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $54.00.

Camden National Stock Up 1.1%

Shares of CAC stock opened at $58.47 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.09. Camden National has a 12 month low of $35.00 and a 12 month high of $59.31. The stock has a market cap of $989.02 million, a P/E ratio of 11.20 and a beta of 0.55. The company has a 50 day simple moving average of $52.67 and a two-hundred day simple moving average of $49.58.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.06. Camden National had a net margin of 23.64% and a return on equity of 12.73%. The business had revenue of $67.41 million for the quarter, compared to analysts’ expectations of $66.41 million. On average, research analysts expect that Camden National will post 5.37 earnings per share for the current year.

Institutional Investors Weigh In On Camden National

A number of institutional investors and hedge funds have recently bought and sold shares of CAC. Franklin Resources Inc. lifted its holdings in Camden National by 7.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,559,400 shares of the financial services provider’s stock worth $60,177,000 after purchasing an additional 113,221 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Camden National by 70.4% during the fourth quarter. Wellington Management Group LLP now owns 220,382 shares of the financial services provider’s stock worth $9,560,000 after acquiring an additional 91,018 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Camden National by 2,802.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 64,348 shares of the financial services provider’s stock valued at $2,791,000 after acquiring an additional 62,131 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Camden National by 98.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 120,062 shares of the financial services provider’s stock valued at $5,208,000 after acquiring an additional 59,479 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in Camden National by 322.3% in the 1st quarter. Empowered Funds LLC now owns 69,644 shares of the financial services provider’s stock valued at $3,305,000 after acquiring an additional 53,154 shares during the last quarter. 77.41% of the stock is owned by institutional investors.

Camden National Company Profile

Camden National Corporation is a bank holding company headquartered in Camden, Maine. Through its primary subsidiary, Camden National Bank, the company provides a full range of community banking services to individuals and businesses. Its branch network spans much of the State of Maine, with a concentration in the midcoast, central and southern regions.

The company’s offerings include deposit products such as checking, savings and money market accounts, along with consumer and commercial lending services.