Stephens Boosts Camden National (NASDAQ:CAC) Price Target to $42.00

Camden National (NASDAQ:CAC) had its price target hoisted by stock analysts at Stephens from $35.00 to $42.00 in a report issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price objective would indicate a potential upside of 11.67% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods lifted their price target on shares of Camden National from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Thursday. StockNews.com raised Camden National from a “sell” rating to a “hold” rating in a research note on Saturday, June 1st.

Camden National Price Performance

Shares of NASDAQ:CAC traded down $1.19 during trading on Friday, reaching $37.61. The company had a trading volume of 56,893 shares, compared to its average volume of 48,732. Camden National has a 12 month low of $26.52 and a 12 month high of $43.44. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $549.48 million, a P/E ratio of 12.53 and a beta of 0.73. The company has a fifty day moving average of $34.20 and a two-hundred day moving average of $33.10.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, July 30th. The financial services provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.10. Camden National had a return on equity of 10.47% and a net margin of 16.01%. The business had revenue of $72.81 million for the quarter, compared to analysts’ expectations of $41.07 million. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Equities research analysts forecast that Camden National will post 3.26 earnings per share for the current year.

Hedge Funds Weigh In On Camden National

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. increased its stake in shares of Camden National by 12.3% in the 4th quarter. Franklin Resources Inc. now owns 1,236,840 shares of the financial services provider’s stock worth $46,542,000 after acquiring an additional 135,944 shares in the last quarter. Signaturefd LLC boosted its position in shares of Camden National by 2,990.3% in the 1st quarter. Signaturefd LLC now owns 38,567 shares of the financial services provider’s stock worth $1,293,000 after purchasing an additional 37,319 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Camden National by 13.2% in the 1st quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock worth $8,027,000 after buying an additional 28,007 shares during the last quarter. Hantz Financial Services Inc. bought a new position in Camden National during the 2nd quarter valued at approximately $757,000. Finally, Clean Yield Group raised its stake in Camden National by 18.4% during the second quarter. Clean Yield Group now owns 109,441 shares of the financial services provider’s stock valued at $3,612,000 after buying an additional 17,020 shares during the last quarter. 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.