Brokerages Set Camden National Corporation (NASDAQ:CAC) Price Target at $49.00

Shares of Camden National Corporation (NASDAQ:CAC) have been assigned an average rating of “Hold” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $49.00.

CAC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price target on Camden National from $45.00 to $47.00 and gave the company a “market perform” rating in a research report on Wednesday, January 28th. Stephens reaffirmed an “equal weight” rating and set a $53.00 price objective on shares of Camden National in a research note on Thursday, February 5th. National Bank Financial set a $47.00 target price on shares of Camden National in a report on Wednesday, January 28th. Finally, Weiss Ratings raised shares of Camden National from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 19th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its holdings in shares of Camden National by 7.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,559,400 shares of the financial services provider’s stock valued at $60,177,000 after purchasing an additional 113,221 shares in the last quarter. State Street Corp boosted its holdings in Camden National by 0.4% in the fourth quarter. State Street Corp now owns 475,268 shares of the financial services provider’s stock worth $20,617,000 after purchasing an additional 1,852 shares in the last quarter. Geode Capital Management LLC increased its position in Camden National by 0.5% during the second quarter. Geode Capital Management LLC now owns 408,288 shares of the financial services provider’s stock worth $16,571,000 after buying an additional 2,187 shares during the last quarter. JPMorgan Chase & Co. increased its position in Camden National by 4.7% during the third quarter. JPMorgan Chase & Co. now owns 311,170 shares of the financial services provider’s stock worth $12,008,000 after buying an additional 13,849 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Camden National by 70.4% during the fourth quarter. Wellington Management Group LLP now owns 220,382 shares of the financial services provider’s stock valued at $9,560,000 after buying an additional 91,018 shares in the last quarter. Institutional investors and hedge funds own 77.41% of the company’s stock.

Camden National Price Performance

NASDAQ CAC opened at $47.45 on Friday. Camden National has a 1 year low of $34.53 and a 1 year high of $51.57. The business’s fifty day moving average is $47.48 and its two-hundred day moving average is $43.23. The stock has a market capitalization of $802.85 million, a P/E ratio of 12.36 and a beta of 0.66. 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 (NASDAQ:CAC) last issued its earnings results on Tuesday, January 27th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.01. Camden National had a return on equity of 11.22% and a net margin of 17.46%. On average, research analysts forecast that Camden National will post 4.25 earnings per share for the current fiscal year.

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.