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

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

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

Camden National Stock Up 2.8 %

Shares of NASDAQ CAC opened at $38.74 on Wednesday. The stock has a market cap of $564.44 million, a PE ratio of 12.87 and a beta of 0.72. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.09. Camden National has a 52-week low of $26.52 and a 52-week high of $43.44. The business has a 50-day moving average price of $37.89 and a 200 day moving average price of $33.91.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $41.07 million. During the same period last year, the firm earned $0.85 EPS. Equities research analysts forecast that Camden National will post 3.34 earnings per share for the current year.

Camden National Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 15th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend was Monday, July 15th. Camden National’s payout ratio is currently 55.81%.

Hedge Funds Weigh In On Camden National

Hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. grew its holdings in 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 valued at $46,542,000 after buying an additional 135,944 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in 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 valued at $27,605,000 after buying an additional 26,450 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Camden National by 1.3% during the 2nd quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock valued at $9,313,000 after buying an additional 3,600 shares during the last quarter. ProShare Advisors LLC grew its holdings in Camden National by 13.2% during the 1st quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock valued at $8,027,000 after buying an additional 28,007 shares during the last quarter. Finally, LSV Asset Management grew its holdings in Camden National by 8.4% during the 2nd quarter. LSV Asset Management now owns 238,595 shares of the financial services provider’s stock valued at $7,874,000 after buying an additional 18,517 shares during the last quarter. 77.41% of the stock is owned by hedge funds and other institutional investors.

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.