Camden National (NASDAQ:CAC) Price Target Raised to $55.00

Camden National (NASDAQ:CAC) had its price target boosted by Keefe, Bruyette & Woods from $50.00 to $55.00 in a research report report published on Thursday,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

CAC has been the topic of several other research reports. National Bank Financial set a $50.00 target price on shares of Camden National in a report on Wednesday, April 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Camden National in a research note on Tuesday, June 9th. Finally, Raymond James Financial upped their price target on shares of Camden National from $56.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Camden National currently has an average rating of “Hold” and an average target price of $55.25.

Camden National Stock Up 0.1%

Shares of NASDAQ CAC opened at $57.89 on Thursday. Camden National has a one year low of $35.00 and a one year high of $59.50. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.82. The firm’s 50 day simple moving average is $53.01 and its two-hundred day simple moving average is $49.73. The stock has a market capitalization of $979.50 million, a P/E ratio of 11.09 and a beta of 0.55.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.29 by $0.06. The firm had revenue of $67.41 million for the quarter, compared to the consensus estimate of $66.41 million. Camden National had a net margin of 23.64% and a return on equity of 12.73%. As a group, analysts expect that Camden National will post 5.43 EPS for the current fiscal year.

Camden National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were given a $0.42 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $1.68 annualized dividend and a yield of 2.9%. Camden National’s payout ratio is presently 32.18%.

Institutional Trading of Camden National

A number of institutional investors have recently made changes to their positions in CAC. Northside Capital Management LLC purchased a new position in shares of Camden National in the second quarter worth $203,000. Hennion & Walsh Asset Management Inc. raised its holdings in Camden National by 24.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 8,068 shares of the financial services provider’s stock valued at $437,000 after buying an additional 1,572 shares during the last quarter. Amundi purchased a new stake in Camden National during the 1st quarter valued at $216,000. Empowered Funds LLC boosted its position in Camden National by 322.3% during the 1st quarter. Empowered Funds LLC now owns 69,644 shares of the financial services provider’s stock valued at $3,305,000 after buying an additional 53,154 shares during the period. Finally, Quantinno Capital Management LP boosted its position in Camden National by 57.7% during the 1st quarter. Quantinno Capital Management LP now owns 12,443 shares of the financial services provider’s stock valued at $590,000 after buying an additional 4,554 shares during the period. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Camden National Company Profile

Camden National Corporation is a bank holding company headquartered in Camden, Maine. Through its primary subsidiary, Camden National Bank, the company provides a full range of community banking services to individuals and businesses. Its branch network spans much of the State of Maine, with a concentration in the midcoast, central and southern regions.

The company’s offerings include deposit products such as checking, savings and money market accounts, along with consumer and commercial lending services.