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

Camden National Corporation (NASDAQ:CAC) has earned an average rating of “Hold” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $52.25.

Several research firms have recently issued reports on CAC. Stephens reissued an “equal weight” rating and set a $53.00 target price on shares of Camden National in a research note on Thursday, February 5th. Raymond James Financial reissued an “outperform” rating and set a $56.00 target price on shares of Camden National in a research note on Wednesday, April 29th. National Bank Financial set a $50.00 target price on Camden National in a research note on Wednesday, April 29th. Keefe, Bruyette & Woods boosted their target price 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. Finally, Weiss Ratings raised Camden National from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 19th.

Camden National Price Performance

Shares of Camden National stock opened at $49.32 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.82. The business’s 50 day simple moving average is $48.39 and its two-hundred day simple moving average is $45.96. The stock has a market capitalization of $834.25 million, a P/E ratio of 10.49 and a beta of 0.56. Camden National has a one year low of $35.00 and a one year high of $53.71.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. The business had revenue of $64.34 million for the quarter, compared to analysts’ expectations of $65.57 million. Camden National had a return on equity of 11.78% and a net margin of 21.32%. Analysts forecast that Camden National will post 5.39 EPS for the current year.

Camden National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 15th were given a dividend of $0.42 per share. The ex-dividend date was Wednesday, April 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.4%. Camden National’s payout ratio is currently 35.74%.

Institutional Investors Weigh In On Camden National

Several hedge funds have recently made changes to their positions in CAC. State of Alaska Department of Revenue purchased a new stake in shares of Camden National in the third quarter worth $26,000. PNC Financial Services Group Inc. grew its stake in shares of Camden National by 106.1% in the first quarter. PNC Financial Services Group Inc. now owns 878 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 452 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Camden National by 13,790.0% in the third quarter. Russell Investments Group Ltd. now owns 1,389 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 1,379 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Camden National in the third quarter worth $58,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Camden National by 15,220.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,532 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 1,522 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.