Camden National (NASDAQ:CAC) Given New $55.00 Price Target at Keefe, Bruyette & Woods

Camden National (NASDAQ:CAC) had its price objective boosted by stock analysts at Keefe, Bruyette & Woods from $50.00 to $55.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential downside of 5.93% from the stock’s current price.

CAC has been the topic of several other research reports. Raymond James Financial upped their target price on shares of Camden National from $56.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. National Bank Financial set a $50.00 price target on shares of Camden National in a research report on Wednesday, April 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Camden National in a report on Tuesday, June 9th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $54.00.

Camden National Price Performance

Shares of NASDAQ:CAC opened at $58.47 on Thursday. The business has a fifty day moving average price of $52.67 and a 200-day moving average price of $49.58. 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 company has a market capitalization of $989.02 million, a PE ratio of 11.20 and a beta of 0.55. Camden National has a 1-year low of $35.00 and a 1-year high of $59.31.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.06. Camden National had a net margin of 23.64% and a return on equity of 12.73%. The company had revenue of $67.41 million for the quarter, compared to analysts’ expectations of $66.41 million. As a group, equities analysts expect that Camden National will post 5.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.