Camden National Corporation (NASDAQ:CAC) Stock Has Average Target Price of $56.00

Shares of Camden National Corporation (NASDAQ:CAC) have received a consensus recommendation of “Hold” from the six brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $56.00.

CAC has been the topic of a number of recent analyst reports. National Bank Financial set a $58.00 price objective on Camden National in a research note on Wednesday, October 28th. Zacks Research lowered Camden National from a “hold” rating to a “strong sell” rating in a research note on Friday, October 30th. Hovde Group started coverage on Camden National in a report on Tuesday, September 15th. They issued a “hold” rating for the company. Weiss Ratings upgraded shares of Camden National from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Camden National from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Thursday, July 30th.

Camden National Stock Performance

NASDAQ:CAC opened at $58.08 on Wednesday. The stock has a market capitalization of $981.55 million, a P/E ratio of 10.94 and a beta of 0.58. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.09. Camden National has a 1 year low of $37.87 and a 1 year high of $60.59. The firm has a 50 day moving average of $57.03 and a 200-day moving average of $52.31.

Camden National (NASDAQ:CAC) last released its quarterly earnings results on Tuesday, October 27th. The financial services provider reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34. Camden National had a return on equity of 12.71% and a net margin of 24.16%. The business had revenue of $66.77 million for the quarter, compared to analyst estimates of $67.91 million. As a group, sell-side analysts anticipate that Camden National will post 5.33 EPS for the current fiscal year.

Camden National Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Thursday, October 15th were paid a $0.42 dividend. The ex-dividend date of this dividend was Thursday, October 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.9%. Camden National’s payout ratio is currently 31.64%.

Institutional Trading of Camden National

Several hedge funds have recently modified their holdings of the stock. Clearstead Trust LLC acquired a new stake in shares of Camden National in the second quarter valued at approximately $29,000. PNC Financial Services Group Inc. lifted its holdings in Camden National by 106.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 878 shares of the financial services provider’s stock worth $42,000 after buying an additional 452 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Camden National during the 2nd quarter worth $67,000. Trust Co. of Vermont acquired a new position in Camden National during the 2nd quarter worth $90,000. Finally, Parallel Advisors LLC boosted its position in Camden National by 114.5% in the 1st quarter. Parallel Advisors LLC now owns 1,950 shares of the financial services provider’s stock valued at $93,000 after buying an additional 1,041 shares during the last quarter. 77.41% of the stock is owned by institutional investors.

Camden National Company Profile

Camden National Corporation (NASDAQ:CAC) is a bank holding company headquartered in Camden, Maine. Through its principal subsidiary, Camden National Bank, the company provides banking and financial services to individuals, families, businesses and municipalities primarily across Maine.

Camden National Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, cash-management services and digital banking. Its offerings also include wealth management, trust and investment services designed to support customers with financial planning and asset management needs.

Founded in 1875, Camden National has developed a community-banking model supported by branches and banking offices throughout Maine.