Camden National Corporation (NASDAQ:CAC) Given Average Recommendation of “Hold” by Analysts

Camden National Corporation (NASDAQ:CAC) has been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $46.75.

CAC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price objective on shares of Camden National from $44.00 to $45.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Camden National in a report on Monday. Janney Montgomery Scott upgraded Camden National to a “hold” rating in a research note on Wednesday, October 22nd. Finally, National Bankshares set a $45.00 price objective on Camden National in a research report on Wednesday, October 29th.

Institutional Investors Weigh In On Camden National

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new position in Camden National in the third quarter worth $26,000. Russell Investments Group Ltd. boosted its position in shares of Camden National by 13,790.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,389 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 1,379 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Camden National in the 3rd quarter worth $58,000. Trust Co. of Vermont grew its stake in Camden National by 330.2% during the 2nd quarter. Trust Co. of Vermont now owns 2,151 shares of the financial services provider’s stock worth $87,000 after buying an additional 1,651 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Camden National by 15.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,567 shares of the financial services provider’s stock valued at $104,000 after buying an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Camden National Stock Up 0.3%

NASDAQ:CAC opened at $45.81 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.81 and a quick ratio of 0.81. Camden National has a 1-year low of $34.53 and a 1-year high of $46.62. The company has a 50-day moving average of $39.58 and a 200 day moving average of $39.84. The firm has a market cap of $775.11 million, a PE ratio of 13.05 and a beta of 0.66.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.23 by $0.01. Camden National had a net margin of 16.24% and a return on equity of 10.76%. The business had revenue of $116.67 million during the quarter, compared to analyst estimates of $63.20 million. As a group, research analysts anticipate that Camden National will post 4.25 EPS for the current fiscal year.

Camden National Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th were given a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, October 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.7%. Camden National’s payout ratio is presently 47.86%.

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.