Camden National (NASDAQ:CAC) Price Target Raised to $40.00 at Keefe, Bruyette & Woods

Camden National (NASDAQ:CAC) had its price objective hoisted by Keefe, Bruyette & Woods from $37.00 to $40.00 in a research note published on Thursday, Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

Separately, StockNews.com raised Camden National from a sell rating to a hold rating in a research note on Saturday, June 1st.

Camden National Stock Down 2.2 %

Shares of CAC stock traded down $0.82 on Thursday, hitting $36.79. 55,049 shares of the stock were exchanged, compared to its average volume of 48,747. The business has a 50-day moving average of $34.30 and a 200 day moving average of $33.07. Camden National has a fifty-two week low of $26.52 and a fifty-two week high of $43.44. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $537.50 million, a P/E ratio of 12.50 and a beta of 0.74.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.10. Camden National had a return on equity of 10.47% and a net margin of 16.01%. The firm had revenue of $72.81 million for the quarter, compared to analyst estimates of $41.07 million. During the same quarter last year, the company earned $0.85 EPS. Equities analysts anticipate that Camden National will post 3.26 EPS for the current year.

Camden National Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 15th were issued a $0.42 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $1.68 dividend on an annualized basis and a yield of 4.57%. Camden National’s payout ratio is currently 55.81%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hanson & Doremus Investment Management purchased a new position in Camden National in the first quarter valued at $35,000. Signaturefd LLC increased its stake in Camden National by 147.1% during the 4th quarter. Signaturefd LLC now owns 1,248 shares of the financial services provider’s stock worth $47,000 after buying an additional 743 shares during the period. Quadrant Capital Group LLC grew its holdings in Camden National by 364.7% during the 4th quarter. Quadrant Capital Group LLC now owns 4,545 shares of the financial services provider’s stock worth $171,000 after acquiring an additional 3,567 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Camden National by 89.3% in the 1st quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider’s stock valued at $237,000 after buying an additional 3,330 shares in the last quarter. Finally, Lmcg Investments LLC acquired a new stake in Camden National during the 4th quarter worth $288,000. 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.