Camden National (NASDAQ:CAC) PT Raised to $42.00 at Stephens

Camden National (NASDAQ:CAC) had its price objective raised by Stephens from $35.00 to $42.00 in a research report released on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the company. StockNews.com upgraded Camden National from a sell rating to a hold rating in a research report on Saturday, June 1st. Keefe, Bruyette & Woods upped their target price on Camden National from $37.00 to $40.00 and gave the company a market perform rating in a report on Thursday.

Camden National Price Performance

Shares of Camden National stock opened at $37.61 on Friday. Camden National has a 52 week low of $26.52 and a 52 week high of $43.44. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The stock has a market cap of $549.48 million, a PE ratio of 12.50 and a beta of 0.74. The company’s 50-day moving average price is $34.30 and its two-hundred day moving average price is $33.11.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, July 30th. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.10. Camden National had a net margin of 16.01% and a return on equity of 10.47%. The business had revenue of $72.81 million for the quarter, compared to the consensus estimate of $41.07 million. During the same period in the previous year, the firm earned $0.85 EPS. As a group, sell-side analysts anticipate that Camden National will post 3.26 EPS for the current fiscal year.

Camden National Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend was Monday, July 15th. Camden National’s dividend payout ratio (DPR) is currently 55.81%.

Institutional Investors Weigh In On Camden National

Several hedge funds have recently bought and sold shares of CAC. Rhumbline Advisers lifted its position in Camden National by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider’s stock worth $762,000 after buying an additional 319 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in shares of Camden National in the second quarter worth $757,000. Signaturefd LLC raised its holdings in shares of Camden National by 30.9% during the second quarter. Signaturefd LLC now owns 50,491 shares of the financial services provider’s stock worth $1,666,000 after acquiring an additional 11,924 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Camden National by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 90,944 shares of the financial services provider’s stock valued at $3,001,000 after purchasing an additional 3,937 shares during the last quarter. Finally, Clean Yield Group grew its stake in Camden National by 18.4% in the second quarter. Clean Yield Group now owns 109,441 shares of the financial services provider’s stock valued at $3,612,000 after purchasing an additional 17,020 shares in the last quarter. 77.41% of the stock is owned by hedge funds and other 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.