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

Camden National (NASDAQ:CAC) had its target price increased by Keefe, Bruyette & Woods from $48.00 to $50.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

Several other equities analysts have also issued reports on the stock. Raymond James raised shares of Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Friday, December 20th. StockNews.com began coverage on Camden National in a report on Monday, January 27th. They issued a “hold” rating for the company.

Camden National Stock Performance

Camden National stock opened at $45.36 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. The stock has a 50-day simple moving average of $44.52 and a 200 day simple moving average of $41.89. Camden National has a 12-month low of $28.62 and a 12-month high of $50.07. The stock has a market capitalization of $661.35 million, a price-to-earnings ratio of 12.53 and a beta of 0.76.

Camden National (NASDAQ:CAC) 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 net margin of 18.02% and a return on equity of 10.38%. During the same period last year, the firm posted $0.85 EPS. On average, research analysts anticipate that Camden National will post 4.16 earnings per share for the current fiscal year.

Camden National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Wednesday, January 15th. Camden National’s payout ratio is presently 46.41%.

Institutional Trading of Camden National

Several hedge funds have recently added to or reduced their stakes in CAC. Nisa Investment Advisors LLC raised its stake in Camden National by 18,500.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 1,850 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Camden National during the 2nd quarter worth approximately $73,000. Foundations Investment Advisors LLC bought a new position in shares of Camden National in the 4th quarter valued at $280,000. SG Americas Securities LLC raised its position in Camden National by 58.1% in the third quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 2,602 shares during the last quarter. Finally, Clark & Stuart Inc acquired a new stake in Camden National during the 4th quarter worth approximately $434,000. 77.41% of the stock is owned by institutional investors and hedge funds.

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.