Camden National (NASDAQ:CAC) Stock Price Target Raised at Stephens

Camden National (NASDAQ:CAC) had its price target raised by stock analysts at Stephens from $58.00 to $59.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Stephens‘s price target would indicate a potential upside of 0.36% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. Hovde Group started coverage on shares of Camden National in a research note on Tuesday, September 15th. They set a “hold” rating for the company. Keefe, Bruyette & Woods raised their price target on shares of Camden National from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Thursday, July 30th. National Bank Financial set a $58.00 price objective on shares of Camden National in a report on Wednesday, October 28th. Zacks Research cut shares of Camden National from a “hold” rating to a “strong sell” rating in a research report on Friday, October 30th. Finally, Weiss Ratings downgraded shares of Camden National from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Camden National presently has a consensus rating of “Hold” and an average price target of $57.50.

Camden National Price Performance

CAC opened at $58.79 on Wednesday. The business has a fifty day moving average of $57.23 and a 200 day moving average of $52.62. Camden National has a 52-week low of $37.87 and a 52-week high of $60.99. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.09. The stock has a market cap of $993.37 million, a P/E ratio of 11.07 and a beta of 0.58.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, October 27th. The financial services provider reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. Camden National had a return on equity of 12.71% and a net margin of 24.16%. The company had revenue of $68.67 million for the quarter, compared to the consensus estimate of $67.91 million. As a group, sell-side analysts anticipate that Camden National will post 5.33 EPS for the current year.

Hedge Funds Weigh In On Camden National

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Clearstead Trust LLC bought a new position in shares of Camden National during the 2nd quarter worth $29,000. PNC Financial Services Group Inc. lifted its stake in Camden National by 106.1% in the first quarter. PNC Financial Services Group Inc. now owns 878 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 452 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Camden National in the second quarter worth about $67,000. Trust Co. of Vermont purchased a new stake in Camden National in the second quarter worth about $90,000. Finally, Parallel Advisors LLC grew its holdings in Camden National by 114.5% during the 1st quarter. Parallel Advisors LLC now owns 1,950 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 1,041 shares in the last quarter. Institutional investors own 77.41% of the company’s stock.

About Camden National

Camden National Bancorp, Inc. is a bank holding company headquartered in Camden, Maine. Its principal subsidiary, Camden National Bank, traces its roots to 1875 and provides banking and financial services to individuals, businesses and institutions. The bank offers personal and business deposit accounts, lending, mortgage and cash-management services, as well as wealth management, trust and investment services. Its service area is centered in Maine, where it operates branches and serves customers across the state.