Camden National Corporation (NASDAQ:CAC) Receives Consensus Rating of “Hold” from Analysts

Shares of Camden National Corporation (NASDAQ:CAC) have been given an average rating of “Hold” by the six analysts that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $52.25.

Several research firms have recently commented on CAC. Raymond James Financial reaffirmed an “outperform” rating and issued a $56.00 price target on shares of Camden National in a report on Wednesday, April 29th. Keefe, Bruyette & Woods lifted their price target on shares of Camden National from $47.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, April 29th. Weiss Ratings upgraded shares of Camden National from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 19th. Finally, National Bank Financial set a $50.00 price objective on shares of Camden National in a research report on Wednesday, April 29th.

Camden National Trading Up 1.0%

NASDAQ CAC opened at $51.24 on Wednesday. Camden National has a one year low of $35.00 and a one year high of $53.71. The company has a 50-day simple moving average of $49.36 and a 200-day simple moving average of $46.96. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $866.98 million, a PE ratio of 10.90 and a beta of 0.56.

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

Camden National Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 15th were given a $0.42 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $1.68 annualized dividend and a yield of 3.3%. Camden National’s dividend payout ratio (DPR) is currently 35.74%.

Institutional Trading of Camden National

Several hedge funds have recently bought and sold shares of CAC. PNC Financial Services Group Inc. lifted its position in Camden National by 106.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 878 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 452 shares during the last quarter. Russell Investments Group Ltd. lifted its position in 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 valued at $54,000 after purchasing an additional 1,379 shares during the last quarter. Advisory Services Network LLC bought a new stake in Camden National in the 3rd quarter valued at about $58,000. Nisa Investment Advisors LLC lifted its position in Camden National by 15,220.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,532 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 1,522 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in Camden National in the 4th quarter valued at about $92,000. 77.41% of the stock is currently owned by institutional investors.

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.