Camden National (NASDAQ:CAC) Upgraded at Zacks Research

Key Points

• Camden National was upgraded to a "hold" rating by Zacks Research, reflecting a shift in analyst sentiment towards the stock.
• The company has an average target price of $48.00 and operates with a market capitalization of $667.32 million.
• Camden National reported earnings of $0.89 EPS for the last quarter, missing the consensus estimate by $0.23, although revenue exceeded expectations with $69.82 million.

Camden National (NASDAQ:CAC - Get Free Report) was upgraded by Zacks Research to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen started coverage on shares of Camden National in a report on Monday, May 19th. They set a "hold" rating on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Camden National from $48.00 to $47.00 and set a "market perform" rating on the stock in a report on Wednesday, May 7th. Finally, Stephens raised shares of Camden National from an "equal weight" rating to an "overweight" rating and decreased their price target for the stock from $49.00 to $44.00 in a report on Wednesday, August 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $48.00.

Camden National Price Performance

CAC stock opened at $39.44 on Tuesday. The company has a market capitalization of $667.32 million, a P/E ratio of 12.48 and a beta of 0.66. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.81. Camden National has a 52-week low of $34.53 and a 52-week high of $50.07. The business has a 50-day simple moving average of $40.20 and a two-hundred day simple moving average of $40.70.

Camden National (NASDAQ:CAC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.89 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.23). Camden National had a net margin of 14.77% and a return on equity of 10.19%. The firm had revenue of $69.82 million during the quarter, compared to analysts' expectations of $61.04 million. Research analysts expect that Camden National will post 4.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC grew its stake in shares of Camden National by 65.4% in the first quarter. CWM LLC now owns 837 shares of the financial services provider's stock worth $34,000 after purchasing an additional 331 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Camden National during the fourth quarter valued at approximately $44,000. Federated Hermes Inc. purchased a new position in shares of Camden National during the fourth quarter valued at approximately $46,000. Eastern Bank purchased a new position in shares of Camden National during the first quarter valued at approximately $50,000. Finally, Trust Co. of Vermont raised its holdings in Camden National by 330.2% in the 2nd quarter. Trust Co. of Vermont now owns 2,151 shares of the financial services provider's stock worth $87,000 after acquiring an additional 1,651 shares during the last quarter. 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.

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