Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Camden National (NASDAQ:CAC) Stock

Camden National (NASDAQ:CAC) had its target price hoisted by research analysts at Keefe, Bruyette & Woods from $48.00 to $50.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 8.04% from the company’s current price.

A number of other research analysts have also issued reports on CAC. StockNews.com started coverage on Camden National in a report on Monday. They issued a “hold” rating on the stock. Raymond James raised shares of Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Friday, December 20th.

Camden National Stock Performance

Shares of Camden National stock traded up $0.85 during trading on Wednesday, reaching $46.28. The company’s stock had a trading volume of 12,908 shares, compared to its average volume of 83,364. The company has a 50-day moving average price of $44.56 and a two-hundred day moving average price of $41.83. Camden National has a fifty-two week low of $28.62 and a fifty-two week high of $50.07. The firm has a market cap of $674.76 million, a PE ratio of 14.46 and a beta of 0.76. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.14. Camden National had a net margin of 16.47% and a return on equity of 9.95%. During the same period last year, the firm earned $0.85 EPS. On average, analysts forecast that Camden National will post 3.49 EPS for the current year.

Hedge Funds Weigh In On Camden National

A number of large investors have recently made changes to their positions in CAC. Empowered Funds LLC increased its stake in Camden National by 4.8% in the 4th quarter. Empowered Funds LLC now owns 39,725 shares of the financial services provider’s stock valued at $1,698,000 after purchasing an additional 1,833 shares in the last quarter. Coston McIsaac & Partners grew its holdings in Camden National by 11.8% in the fourth quarter. Coston McIsaac & Partners now owns 12,997 shares of the financial services provider’s stock valued at $555,000 after purchasing an additional 1,376 shares during the last quarter. Foundations Investment Advisors LLC purchased a new position in shares of Camden National in the fourth quarter valued at $280,000. SG Americas Securities LLC raised its stake in shares of Camden National by 26.5% during the 4th quarter. SG Americas Securities LLC now owns 8,952 shares of the financial services provider’s stock worth $383,000 after buying an additional 1,875 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Camden National by 18,500.0% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 77.41% of the company’s stock.

About Camden National

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.