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

Camden National (NASDAQ:CAC - Free Report) had its price target increased by Keefe, Bruyette & Woods from $48.00 to $50.00 in a report published on Wednesday,Benzinga reports. The firm currently has a market perform rating on the financial services provider's stock.

Other equities analysts have also recently issued reports about the company. StockNews.com started coverage on Camden National in a report on Monday. They set 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 target on the stock in a research report on Friday, December 20th.

Camden National Trading Down 0.9 %

Shares of NASDAQ:CAC traded down $0.39 during midday trading on Wednesday, hitting $45.47. 82,457 shares of the stock were exchanged, compared to its average volume of 86,656. Camden National has a 12 month low of $28.62 and a 12 month high of $50.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $662.95 million, a price-to-earnings ratio of 14.21 and a beta of 0.76. The business's 50-day moving average price is $44.55 and its 200 day moving average price is $41.86.

Camden National (NASDAQ:CAC - Get Free Report) last announced its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.89 by $0.14. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same quarter in the prior year, the firm posted $0.85 EPS. Analysts predict that Camden National will post 3.49 earnings per share for the current year.

Camden National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Wednesday, January 15th. Camden National's payout ratio is 52.50%.

Institutional Trading of Camden National

Several large investors have recently added to or reduced their stakes in the business. US Bancorp DE increased its stake in Camden National by 2.9% in the third quarter. US Bancorp DE now owns 11,166 shares of the financial services provider's stock worth $461,000 after purchasing an additional 319 shares during the period. Rhumbline Advisers increased its holdings in shares of Camden National by 1.8% in the fourth quarter. Rhumbline Advisers now owns 23,204 shares of the financial services provider's stock valued at $992,000 after purchasing an additional 415 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Camden National by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 117,995 shares of the financial services provider's stock worth $4,876,000 after purchasing an additional 674 shares during the period. Apollon Wealth Management LLC boosted its holdings in shares of Camden National by 3.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 30,435 shares of the financial services provider's stock valued at $1,258,000 after acquiring an additional 900 shares during the last quarter. Finally, Coston McIsaac & Partners boosted its stake in shares of Camden National by 11.8% in the fourth quarter. Coston McIsaac & Partners now owns 12,997 shares of the financial services provider's stock worth $555,000 after buying an additional 1,376 shares during the last quarter. 77.41% of the stock is currently owned by 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.