Camden National (NASDAQ:CAC) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Camden National (NASDAQ:CACGet Free Report) had its price objective hoisted by equities researchers at Keefe, Bruyette & Woods from $45.00 to $47.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 0.73% from the company’s current price.

CAC has been the subject of several other reports. Janney Montgomery Scott raised shares of Camden National to a “hold” rating in a research note on Wednesday, October 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of Camden National in a report on Monday, December 29th. Finally, National Bankshares set a $47.00 price objective on Camden National in a research report on Wednesday. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $46.00.

Read Our Latest Stock Report on CAC

Camden National Trading Up 2.2%

Camden National stock opened at $46.66 on Wednesday. The stock has a 50-day moving average price of $44.19 and a 200 day moving average price of $40.88. Camden National has a 52 week low of $34.53 and a 52 week high of $48.40. The stock has a market cap of $789.49 million, a PE ratio of 12.15 and a beta of 0.65. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09.

Camden National (NASDAQ:CACGet Free Report) last released its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.01. The company had revenue of $68.05 million for the quarter, compared to analysts’ expectations of $66.40 million. Camden National had a net margin of 17.46% and a return on equity of 11.39%. Equities research analysts predict that Camden National will post 4.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Camden National

A number of institutional investors have recently added to or reduced their stakes in CAC. AQR Capital Management LLC raised its holdings in shares of Camden National by 151.1% in the 1st quarter. AQR Capital Management LLC now owns 24,455 shares of the financial services provider’s stock worth $990,000 after purchasing an additional 14,715 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Camden National by 20.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,925 shares of the financial services provider’s stock worth $402,000 after purchasing an additional 1,661 shares in the last quarter. Empowered Funds LLC raised its holdings in Camden National by 8.4% in the first quarter. Empowered Funds LLC now owns 43,043 shares of the financial services provider’s stock valued at $1,742,000 after buying an additional 3,318 shares during the period. Jane Street Group LLC acquired a new position in Camden National during the first quarter valued at approximately $1,019,000. Finally, Trust Co. of Vermont lifted its position in Camden National by 330.2% during the second quarter. Trust Co. of Vermont now owns 2,151 shares of the financial services provider’s stock valued at $87,000 after buying an additional 1,651 shares in the last quarter. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Camden National News Roundup

Here are the key news stories impacting Camden National this week:

About Camden National

(Get Free Report)

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.

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Analyst Recommendations for Camden National (NASDAQ:CAC)

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