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

Camden National (NASDAQ:CAC) had its target price lifted by Stephens from $35.00 to $42.00 in a report released on Friday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other equities analysts have also recently weighed in on CAC. StockNews.com upgraded shares of Camden National from a sell rating to a hold rating in a research report on Saturday, June 1st. Keefe, Bruyette & Woods upped their price objective on shares of Camden National from $37.00 to $40.00 and gave the company a market perform rating in a report on Thursday.

Camden National Stock Down 1.8 %

Shares of Camden National stock traded down $0.69 on Friday, reaching $36.92. The stock had a trading volume of 66,695 shares, compared to its average volume of 48,852. The company has a 50 day moving average price of $34.30 and a 200 day moving average price of $33.07. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.09. Camden National has a 1 year low of $26.52 and a 1 year high of $43.44. The stock has a market capitalization of $539.40 million, a P/E ratio of 12.50 and a beta of 0.74.

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

Camden National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $1.68 annualized dividend and a dividend yield of 4.55%. Camden National’s dividend payout ratio is presently 55.81%.

Hedge Funds Weigh In On Camden National

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Camden National by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 747,018 shares of the financial services provider’s stock valued at $21,081,000 after buying an additional 6,807 shares during the period. SG Americas Securities LLC grew its stake in shares of Camden National by 31.1% during the 4th quarter. SG Americas Securities LLC now owns 9,751 shares of the financial services provider’s stock worth $367,000 after purchasing an additional 2,311 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Camden National by 10.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 15,249 shares of the financial services provider’s stock worth $574,000 after purchasing an additional 1,456 shares during the period. Signaturefd LLC grew its stake in shares of Camden National by 147.1% during the 4th quarter. Signaturefd LLC now owns 1,248 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 743 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Camden National by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 775,647 shares of the financial services provider’s stock worth $29,189,000 after purchasing an additional 8,046 shares during the period. 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.