Camden National (NASDAQ:CAC) Given “Equal Weight” Rating at Stephens

Camden National (NASDAQ:CAC)‘s stock had its “equal weight” rating reaffirmed by stock analysts at Stephens in a report released on Thursday, MarketBeat Ratings reports. They presently have a $53.00 price objective on the financial services provider’s stock. Stephens’ price objective points to a potential upside of 4.11% from the stock’s previous close.

CAC has been the subject of several other research reports. Keefe, Bruyette & Woods raised their target price on Camden National from $45.00 to $47.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Camden National in a research note on Monday, December 29th. Janney Montgomery Scott upgraded shares of Camden National to a “hold” rating in a research note on Wednesday, October 22nd. Finally, National Bankshares set a $47.00 price target on shares of Camden National in a report on Wednesday, January 28th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $49.00.

Camden National Stock Up 2.5%

CAC opened at $50.91 on Thursday. Camden National has a 12 month low of $34.53 and a 12 month high of $51.57. The company has a market cap of $861.50 million, a PE ratio of 13.26 and a beta of 0.66. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The company has a 50 day moving average of $44.90 and a 200 day moving average of $41.07.

Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, January 27th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.01. The firm had revenue of $68.05 million for the quarter, compared to the consensus estimate of $66.40 million. Camden National had a return on equity of 11.39% and a net margin of 17.46%. On average, sell-side analysts expect that Camden National will post 4.25 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CAC. AQR Capital Management LLC lifted its position in Camden National by 151.1% in the first quarter. AQR Capital Management LLC now owns 24,455 shares of the financial services provider’s stock valued at $990,000 after purchasing an additional 14,715 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Camden National by 20.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,925 shares of the financial services provider’s stock worth $402,000 after purchasing an additional 1,661 shares in the last quarter. Empowered Funds LLC lifted its position in Camden National by 8.4% during the 1st quarter. Empowered Funds LLC now owns 43,043 shares of the financial services provider’s stock valued at $1,742,000 after acquiring an additional 3,318 shares during the period. Jane Street Group LLC purchased a new position in shares of Camden National during the first quarter valued at approximately $1,019,000. Finally, KLP Kapitalforvaltning AS raised its stake in Camden National by 77.4% during the second quarter. KLP Kapitalforvaltning AS now owns 5,500 shares of the financial services provider’s stock valued at $223,000 after buying an additional 2,400 shares during the last quarter. 77.41% of the stock is currently owned by institutional investors.

About Camden National

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.