Keefe, Bruyette & Woods Increases Camden National (NASDAQ:CAC) Price Target to $41.00

Camden National (NASDAQ:CAC) had its price target upped by Keefe, Bruyette & Woods from $40.00 to $41.00 in a research note published on Wednesday, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the company. Stephens boosted their price objective on Camden National from $35.00 to $42.00 and gave the company an equal weight rating in a report on Friday, August 2nd. StockNews.com upgraded Camden National from a sell rating to a hold rating in a report on Saturday, June 1st.

Camden National Price Performance

NASDAQ:CAC opened at $38.74 on Wednesday. Camden National has a 52 week low of $26.52 and a 52 week high of $43.44. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $564.44 million, a P/E ratio of 12.87 and a beta of 0.72. The stock’s fifty day moving average is $37.89 and its two-hundred day moving average is $33.91.

Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, July 30th. The financial services provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.10. Camden National had a return on equity of 10.36% and a net margin of 16.01%. The company had revenue of $72.81 million for the quarter, compared to the consensus estimate of $41.07 million. During the same quarter in the previous year, the business earned $0.85 earnings per share. Equities analysts expect that Camden National will post 3.34 EPS for the current year.

Camden National Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th were issued 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 yield of 4.34%. Camden National’s dividend payout ratio (DPR) is 55.81%.

Institutional Investors Weigh In On Camden National

Large investors have recently bought and sold shares of the stock. Kimelman & Baird LLC acquired a new position in shares of Camden National during the 2nd quarter worth about $4,943,000. Franklin Resources Inc. boosted its position in shares of Camden National by 12.3% during the 4th quarter. Franklin Resources Inc. now owns 1,236,840 shares of the financial services provider’s stock worth $46,542,000 after acquiring an additional 135,944 shares in the last quarter. Signaturefd LLC boosted its position in shares of Camden National by 2,990.3% during the 1st quarter. Signaturefd LLC now owns 38,567 shares of the financial services provider’s stock worth $1,293,000 after acquiring an additional 37,319 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Camden National by 13.2% during the 1st quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock worth $8,027,000 after acquiring an additional 28,007 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Camden National by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock worth $27,605,000 after acquiring an additional 26,450 shares in the last quarter. 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.