Camden National’s (CAC) “Equal Weight” Rating Reiterated at Stephens

Camden National (NASDAQ:CAC)‘s stock had its “equal weight” rating reiterated by investment analysts at Stephens in a research report issued to clients and investors on Thursday, MarketBeat reports. They currently have a $53.00 target price on the financial services provider’s stock. Stephens’ price target would indicate a potential upside of 4.11% from the company’s previous close.

A number of other research analysts have also recently weighed in on CAC. National Bankshares set a $47.00 price objective on Camden National in a research report on Wednesday, January 28th. Janney Montgomery Scott raised shares of Camden National to a “hold” rating in a report on Wednesday, October 22nd. Keefe, Bruyette & Woods upped their price target on shares of Camden National from $45.00 to $47.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 28th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Camden National in a research report on Monday, December 29th. Five analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $49.00.

Camden National Stock Performance

CAC opened at $50.91 on Thursday. The company’s 50 day moving average is $44.90 and its 200 day moving average is $41.07. 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 company has a market cap of $861.50 million, a price-to-earnings ratio of 13.26 and a beta of 0.66. Camden National has a 12-month low of $34.53 and a 12-month high of $51.57.

Camden National (NASDAQ:CAC) last released its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.01. Camden National had a net margin of 17.46% and a return on equity of 11.39%. The business had revenue of $68.05 million for the quarter, compared to the consensus estimate of $66.40 million. On average, equities research analysts predict that Camden National will post 4.25 EPS for the current year.

Institutional Trading of Camden National

A number of institutional investors and hedge funds have recently bought and sold shares of CAC. Franklin Resources Inc. boosted its holdings in shares of Camden National by 7.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,559,400 shares of the financial services provider’s stock valued at $60,177,000 after purchasing an additional 113,221 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Camden National by 0.5% in the second quarter. Geode Capital Management LLC now owns 408,288 shares of the financial services provider’s stock worth $16,571,000 after buying an additional 2,187 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Camden National by 4.7% during the third quarter. JPMorgan Chase & Co. now owns 311,170 shares of the financial services provider’s stock valued at $12,008,000 after buying an additional 13,849 shares during the last quarter. Clean Yield Group grew its holdings in Camden National by 1.2% during the 3rd quarter. Clean Yield Group now owns 102,607 shares of the financial services provider’s stock valued at $3,960,000 after buying an additional 1,198 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in Camden National by 5.0% in the 2nd quarter. Bridgeway Capital Management LLC now owns 86,290 shares of the financial services provider’s stock worth $3,502,000 after acquiring an additional 4,147 shares during the last quarter. 77.41% of the stock is currently owned by 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.