Stephens Reiterates Equal Weight Rating for Camden National (NASDAQ:CAC)

Camden National (NASDAQ:CAC)‘s stock had its “equal weight” rating reissued by equities researchers at Stephens in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. They presently have a $53.00 price objective on the financial services provider’s stock. Stephens’ target price points to a potential upside of 5.73% from the stock’s previous close.

CAC has been the topic of a number of other reports. Janney Montgomery Scott upgraded Camden National to a “hold” rating in a research note on Wednesday, October 22nd. Keefe, Bruyette & Woods raised their target price on Camden National from $45.00 to $47.00 and gave the company a “market perform” rating in a report on Wednesday, January 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Camden National in a research note on Monday, December 29th. Finally, National Bankshares set a $47.00 price target on shares of Camden National in a report on Wednesday, January 28th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $49.00.

Camden National Stock Up 0.3%

CAC stock opened at $50.13 on Thursday. The stock has a market capitalization of $848.20 million, a PE ratio of 13.05 and a beta of 0.66. The company has a fifty day moving average of $45.28 and a 200-day moving average of $41.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.81. Camden National has a one year low of $34.53 and a one year high of $51.57.

Camden National (NASDAQ:CAC) last posted 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. Camden National had a net margin of 17.46% and a return on equity of 11.39%. The firm had revenue of $68.05 million during the quarter, compared to analysts’ expectations of $66.40 million. As a group, analysts expect that Camden National will post 4.25 EPS for the current year.

Institutional Trading of Camden National

Several large investors have recently modified their holdings of the business. Police & Firemen s Retirement System of New Jersey raised its position in shares of Camden National by 9.6% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 3,825 shares of the financial services provider’s stock worth $155,000 after purchasing an additional 335 shares during the last quarter. Quantbot Technologies LP increased its position in Camden National by 11.9% during the third quarter. Quantbot Technologies LP now owns 3,545 shares of the financial services provider’s stock worth $137,000 after buying an additional 378 shares in the last quarter. Bryn Mawr Trust Advisors LLC increased its position in Camden National by 6.7% during the second quarter. Bryn Mawr Trust Advisors LLC now owns 6,161 shares of the financial services provider’s stock worth $250,000 after buying an additional 386 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Camden National by 6.1% in the third quarter. Intech Investment Management LLC now owns 7,282 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 421 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Camden National by 2.2% in the fourth quarter. Signaturefd LLC now owns 20,592 shares of the financial services provider’s stock valued at $893,000 after acquiring an additional 434 shares in the last quarter. 77.41% of the stock is currently owned by institutional investors and hedge funds.

About Camden National

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.