Camden National (NASDAQ:CAC) Upgraded at Raymond James

Camden National (NASDAQ:CAC) was upgraded by equities researchers at Raymond James from a “market perform” rating to an “outperform” rating in a research report issued on Friday,Briefing.com Automated Import reports. The firm currently has a $50.00 price target on the financial services provider’s stock. Raymond James’ price target would suggest a potential upside of 18.23% from the stock’s current price.

Several other research analysts have also recently issued reports on CAC. Keefe, Bruyette & Woods lifted their target price on shares of Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com initiated coverage on shares of Camden National in a report on Wednesday. They issued a “hold” rating for the company.

Camden National Price Performance

Shares of CAC stock opened at $42.29 on Friday. 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 firm has a market cap of $616.46 million, a P/E ratio of 13.22 and a beta of 0.75. The business’s 50 day moving average price is $45.03 and its 200-day moving average price is $39.59. Camden National has a fifty-two week low of $28.62 and a fifty-two week high of $50.07.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.11. Camden National had a net margin of 16.47% and a return on equity of 9.95%. The company had revenue of $75.13 million for the quarter, compared to analysts’ expectations of $43.90 million. During the same quarter in the previous year, the company earned $0.96 earnings per share. On average, equities research analysts anticipate that Camden National will post 3.49 earnings per share for the current year.

Institutional Trading of Camden National

A number of institutional investors and hedge funds have recently bought and sold shares of CAC. Northwestern Mutual Wealth Management Co. bought a new stake in Camden National in the second quarter worth $73,000. SG Americas Securities LLC increased its holdings in shares of Camden National by 58.1% in the 3rd quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock worth $292,000 after buying an additional 2,602 shares during the last quarter. Inspire Investing LLC purchased a new stake in shares of Camden National during the 2nd quarter valued at about $349,000. US Bancorp DE lifted its holdings in shares of Camden National by 2.9% in the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock valued at $461,000 after acquiring an additional 319 shares during the last quarter. Finally, Coston McIsaac & Partners grew its position in Camden National by 18.6% in the third quarter. Coston McIsaac & Partners now owns 11,621 shares of the financial services provider’s stock worth $480,000 after acquiring an additional 1,819 shares in the last quarter. 77.41% of the stock is currently owned by institutional investors.

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.