Camden National (NASDAQ:CAC) Price Target Raised to $50.00 at Keefe, Bruyette & Woods

Camden National (NASDAQ:CAC) had its target price upped by Keefe, Bruyette & Woods from $48.00 to $50.00 in a report published on Wednesday,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

A number of other research firms 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 price target on the stock in a report on Friday, December 20th. StockNews.com initiated coverage on shares of Camden National in a research report on Monday. They set a “hold” rating on the stock.

Camden National Stock Performance

Camden National stock opened at $45.86 on Wednesday. Camden National has a 1-year low of $28.62 and a 1-year high of $50.07. The company’s 50-day moving average is $44.56 and its 200 day moving average is $41.83. The firm has a market capitalization of $668.64 million, a P/E ratio of 14.33 and a beta of 0.76. 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 issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.14. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same quarter last year, the company posted $0.85 earnings per share. Research analysts forecast that Camden National will post 3.49 EPS for the current year.

Camden National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Wednesday, January 15th. Camden National’s dividend payout ratio (DPR) is presently 52.50%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CAC. Northwestern Mutual Wealth Management Co. bought a new position in shares of Camden National during the second quarter valued at approximately $73,000. Nisa Investment Advisors LLC lifted its holdings in Camden National by 18,500.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the financial services provider’s stock worth $79,000 after buying an additional 1,850 shares during the period. Foundations Investment Advisors LLC bought a new stake in Camden National during the 4th quarter valued at $280,000. SG Americas Securities LLC increased its holdings in shares of Camden National by 58.1% in the 3rd quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider’s stock valued at $292,000 after acquiring an additional 2,602 shares during the period. Finally, Clark & Stuart Inc bought a new position in shares of Camden National in the 4th quarter worth $434,000. Hedge funds and other 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.