Camden National Corporation (NASDAQ:CAC) Receives $52.75 Consensus Target Price from Analysts

Shares of Camden National Corporation (NASDAQ:CAC) have been assigned an average rating of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $52.75.

Several research firms recently weighed in on CAC. National Bank Financial set a $50.00 price target on shares of Camden National in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Camden National in a research note on Tuesday, June 9th. Raymond James Financial boosted their price target on Camden National from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods increased their price objective on Camden National from $47.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, April 29th.

Hedge Funds Weigh In On Camden National

Hedge funds and other institutional investors have recently modified their holdings of the business. Northside Capital Management LLC acquired a new position in shares of Camden National during the 2nd quarter worth approximately $203,000. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Camden National by 24.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 8,068 shares of the financial services provider’s stock valued at $437,000 after purchasing an additional 1,572 shares during the last quarter. Amundi purchased a new position in Camden National during the first quarter worth approximately $216,000. Empowered Funds LLC boosted its stake in Camden National by 322.3% during the first quarter. Empowered Funds LLC now owns 69,644 shares of the financial services provider’s stock worth $3,305,000 after buying an additional 53,154 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in Camden National by 57.7% in the 1st quarter. Quantinno Capital Management LP now owns 12,443 shares of the financial services provider’s stock valued at $590,000 after buying an additional 4,554 shares in the last quarter. 77.41% of the stock is owned by hedge funds and other institutional investors.

Camden National Price Performance

CAC traded up $0.06 during trading on Friday, hitting $53.73. The company’s stock had a trading volume of 85,246 shares, compared to its average volume of 115,723. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $908.84 million, a price-to-earnings ratio of 11.43 and a beta of 0.55. The business’s fifty day simple moving average is $50.97 and its 200 day simple moving average is $48.59. Camden National has a twelve month low of $35.00 and a twelve month high of $56.22.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.26 by $0.03. The company had revenue of $64.34 million during the quarter, compared to analyst estimates of $65.57 million. Camden National had a net margin of 21.32% and a return on equity of 11.78%. On average, equities research analysts forecast that Camden National will post 5.37 EPS for the current fiscal year.

Camden National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.1%. Camden National’s dividend payout ratio is presently 35.74%.

Camden National Company Profile

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.