Camden National (NASDAQ:CAC) PT Raised to $41.00

Camden National (NASDAQ:CAC) had its target price upped by research analysts at Keefe, Bruyette & Woods from $40.00 to $41.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 8.75% from the company’s current price.

CAC has been the topic of several other reports. Stephens lifted their target price on shares of Camden National from $35.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. StockNews.com raised shares of Camden National from a “sell” rating to a “hold” rating in a research note on Saturday, June 1st.

Camden National Stock Down 0.6 %

Shares of NASDAQ:CAC opened at $37.70 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.82. Camden National has a 52-week low of $26.52 and a 52-week high of $43.44. The company has a market capitalization of $550.68 million, a PE ratio of 12.52 and a beta of 0.72. The company has a fifty day moving average of $37.75 and a 200-day moving average of $33.85.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.10. The business had revenue of $72.81 million during the quarter, compared to analysts’ expectations of $41.07 million. Camden National had a return on equity of 10.36% and a net margin of 16.01%. During the same quarter in the prior year, the firm earned $0.85 EPS. On average, equities analysts predict that Camden National will post 3.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Camden National

A number of institutional investors and hedge funds have recently made changes to their positions in CAC. Northwestern Mutual Wealth Management Co. bought a new stake in Camden National during the 2nd quarter worth approximately $73,000. Quadrant Capital Group LLC boosted its position in shares of Camden National by 364.7% during the fourth quarter. Quadrant Capital Group LLC now owns 4,545 shares of the financial services provider’s stock valued at $171,000 after buying an additional 3,567 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Camden National by 89.3% during the first quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock worth $237,000 after buying an additional 3,330 shares in the last quarter. Lmcg Investments LLC bought a new stake in Camden National during the fourth quarter worth $288,000. Finally, Trexquant Investment LP purchased a new stake in Camden National in the 4th quarter valued at $294,000. Institutional investors own 77.41% of the company’s stock.

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.