Camden National (NASDAQ:CAC) Price Target Raised to $50.00

Camden National (NASDAQ:CACGet Free Report) had its price target hoisted by equities researchers at Keefe, Bruyette & Woods from $48.00 to $50.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 9.96% from the company’s previous close.

CAC has been the topic of a number of other research reports. Raymond James raised Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a report on Friday, December 20th. StockNews.com initiated coverage on shares of Camden National in a report on Monday. They issued a “hold” rating on the stock.

Read Our Latest Research Report on Camden National

Camden National Price Performance

Shares of NASDAQ:CAC opened at $45.47 on Wednesday. Camden National has a fifty-two week low of $28.62 and a fifty-two week high of $50.07. The company’s 50-day moving average is $44.55 and its 200 day moving average is $41.86. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $662.95 million, a P/E ratio of 14.21 and a beta of 0.76.

Camden National (NASDAQ:CACGet Free Report) last issued its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.14. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same period last year, the firm earned $0.85 EPS. On average, equities research analysts forecast that Camden National will post 3.49 earnings per share for the current year.

Institutional Trading of Camden National

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in shares of Camden National by 53.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 283,911 shares of the financial services provider’s stock worth $11,731,000 after buying an additional 99,097 shares during the period. Barclays PLC boosted its stake in Camden National by 38.9% during the third quarter. Barclays PLC now owns 48,339 shares of the financial services provider’s stock worth $1,998,000 after acquiring an additional 13,542 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Camden National during the third quarter valued at approximately $659,000. Creative Planning lifted its holdings in shares of Camden National by 65.3% during the third quarter. Creative Planning now owns 34,590 shares of the financial services provider’s stock valued at $1,429,000 after purchasing an additional 13,663 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Camden National by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock worth $14,236,000 after purchasing an additional 4,067 shares in the last quarter. Hedge funds and other institutional investors own 77.41% of the company’s stock.

About Camden National

(Get Free Report)

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.

Further Reading

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