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

Camden National (NASDAQ:CAC) had its target price increased by stock analysts at Keefe, Bruyette & Woods from $48.00 to $50.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 9.96% from the stock’s previous close.

Several other equities analysts have also recently commented on CAC. Raymond James upgraded shares of Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Friday, December 20th. StockNews.com assumed coverage on shares of Camden National in a research note on Monday. They issued a “hold” rating for the company.

Camden National Stock Performance

Shares of CAC stock opened at $45.47 on Wednesday. Camden National has a fifty-two week low of $28.62 and a fifty-two week high of $50.07. The stock’s 50-day moving average is $44.55 and its two-hundred day 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. The firm has a market cap of $662.95 million, a P/E ratio of 14.21 and a beta of 0.76.

Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share (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 period last year, the firm posted $0.85 earnings per share. Analysts predict that Camden National will post 3.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Camden National

Institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. bought a new position in shares of Camden National during the 2nd quarter valued at about $73,000. Nisa Investment Advisors LLC lifted its stake in Camden National by 18,500.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock valued at $79,000 after buying an additional 1,850 shares in the last quarter. Foundations Investment Advisors LLC acquired a new position in shares of Camden National in the fourth quarter valued at approximately $280,000. SG Americas Securities LLC increased its position in shares of Camden National by 58.1% during the third quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock worth $292,000 after acquiring an additional 2,602 shares in the last quarter. Finally, Clark & Stuart Inc acquired a new stake in shares of Camden National during the fourth quarter worth $434,000. Institutional investors and hedge funds own 77.41% of the company’s stock.

About Camden National

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.