Camden National (NASDAQ:CAC) Receives Outperform Rating from Raymond James

Camden National (NASDAQ:CAC)‘s stock had its “outperform” rating reaffirmed by research analysts at Raymond James in a report issued on Wednesday,Benzinga reports. They currently have a $53.00 target price on the financial services provider’s stock, up from their prior target price of $50.00. Raymond James’ price target suggests a potential upside of 16.56% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. StockNews.com began coverage on Camden National in a research note on Monday. They issued a “hold” rating for the company. Keefe, Bruyette & Woods increased their price objective on Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday.

Camden National Stock Down 0.9 %

Shares of NASDAQ CAC opened at $45.47 on Wednesday. The stock has a market capitalization of $662.95 million, a P/E ratio of 14.21 and a beta of 0.76. Camden National has a one year low of $28.62 and a one year high of $50.07. The firm’s 50 day simple moving average is $44.55 and its two-hundred day simple moving average is $41.86. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.89 by $0.14. Camden National had a net margin of 16.47% and a return on equity of 9.95%. During the same quarter last year, the company posted $0.85 EPS. As a group, analysts expect that Camden National will post 3.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE boosted its stake in shares of Camden National by 2.9% during the 3rd quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock valued at $461,000 after purchasing an additional 319 shares in the last quarter. Rhumbline Advisers boosted its position in Camden National by 1.8% during the 4th quarter. Rhumbline Advisers now owns 23,204 shares of the financial services provider’s stock valued at $992,000 after acquiring an additional 415 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Camden National by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider’s stock worth $4,876,000 after acquiring an additional 674 shares during the period. Apollon Wealth Management LLC raised its position in shares of Camden National by 3.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider’s stock worth $1,258,000 after acquiring an additional 900 shares in the last quarter. Finally, Coston McIsaac & Partners lifted its stake in shares of Camden National by 11.8% in the 4th quarter. Coston McIsaac & Partners now owns 12,997 shares of the financial services provider’s stock valued at $555,000 after purchasing an additional 1,376 shares during the period. Institutional investors own 77.41% of the company’s stock.

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.