Camden National (NASDAQ:CAC) Given “Outperform” Rating at Raymond James

Camden National (NASDAQ:CAC)‘s stock had its “outperform” rating reissued by stock analysts at Raymond James in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $53.00 price objective on the financial services provider’s stock, up from their previous price objective of $50.00. Raymond James’ price target would suggest a potential upside of 15.82% from the company’s current price.

A number of other research analysts have also issued reports on CAC. Keefe, Bruyette & Woods boosted their price target on Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday. StockNews.com initiated coverage on shares of Camden National in a report on Monday. They issued a “hold” rating for the company.

Camden National Stock Performance

Shares of CAC traded up $0.33 during midday trading on Wednesday, hitting $45.76. 16,311 shares of the stock traded hands, compared to its average volume of 83,508. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. Camden National has a 1-year low of $28.62 and a 1-year high of $50.07. The business’s 50 day moving average price is $44.56 and its two-hundred day moving average price is $41.83. The firm has a market capitalization of $667.18 million, a PE ratio of 14.34 and a beta of 0.76.

Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, topping 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 in the previous year, the business posted $0.85 earnings per share. Equities research analysts predict that Camden National will post 3.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Camden National

Institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE raised its position in shares of Camden National by 2.9% during the third quarter. US Bancorp DE now owns 11,166 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 319 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in 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 buying an additional 674 shares during the period. Apollon Wealth Management LLC lifted its stake in Camden National by 3.0% during the third quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider’s stock valued at $1,258,000 after buying an additional 900 shares in the last quarter. Coston McIsaac & Partners boosted its holdings in shares of Camden National by 11.8% in the fourth quarter. Coston McIsaac & Partners now owns 12,997 shares of the financial services provider’s stock worth $555,000 after buying an additional 1,376 shares during the period. Finally, Empowered Funds LLC increased its position in shares of Camden National by 4.8% in the fourth quarter. Empowered Funds LLC now owns 39,725 shares of the financial services provider’s stock worth $1,698,000 after acquiring an additional 1,833 shares in the last quarter. 77.41% of the stock is owned by institutional investors and hedge funds.

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.