Camden National Corporation (NASDAQ:CAC) Receives $49.00 Average Target Price from Analysts

Shares of Camden National Corporation (NASDAQ:CAC) have received a consensus rating of “Hold” from the five research firms that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $49.00.

CAC has been the topic of a number of recent analyst reports. National Bank Financial set a $47.00 target price on Camden National in a research report on Wednesday, January 28th. Keefe, Bruyette & Woods upped their price objective 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. Weiss Ratings raised shares of Camden National from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 19th. Finally, Stephens reiterated an “equal weight” rating and issued a $53.00 target price on shares of Camden National in a research report on Thursday, February 5th.

Institutional Investors Weigh In On Camden National

Institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. increased its stake in 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 worth $60,177,000 after buying an additional 113,221 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Camden National by 70.4% in the fourth quarter. Wellington Management Group LLP now owns 220,382 shares of the financial services provider’s stock valued at $9,560,000 after acquiring an additional 91,018 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Camden National in the third quarter valued at approximately $2,897,000. TrueMark Investments LLC acquired a new stake in shares of Camden National in the third quarter worth approximately $2,634,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Camden National by 2,802.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 64,348 shares of the financial services provider’s stock worth $2,791,000 after acquiring an additional 62,131 shares during the last quarter. 77.41% of the stock is currently owned by institutional investors and hedge funds.

Camden National Stock Performance

NASDAQ CAC opened at $46.20 on Friday. The stock has a market capitalization of $781.70 million, a price-to-earnings ratio of 12.03 and a beta of 0.66. The stock has a 50-day moving average of $47.39 and a 200 day moving average of $43.14. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. Camden National has a twelve month low of $34.53 and a twelve month high of $51.57.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.32 by $0.01. Camden National had a return on equity of 11.22% and a net margin of 17.46%. Sell-side analysts anticipate that Camden National will post 4.25 EPS for the current fiscal year.

Camden National Company Profile

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.