Camden National (NASDAQ:CAC) Shares Pass Above 200-Day Moving Average – What’s Next?

Camden National Corporation (NASDAQ:CAC)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $45.57 and traded as high as $48.37. Camden National shares last traded at $47.53, with a volume of 83,760 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Weiss Ratings raised Camden National from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 19th. Stephens reissued an “equal weight” rating and issued a $53.00 target price on shares of Camden National in a research report on Thursday, February 5th. Keefe, Bruyette & Woods boosted their target price on Camden National from $47.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. Raymond James Financial reissued an “outperform” rating and issued a $56.00 target price on shares of Camden National in a research report on Wednesday, April 29th. Finally, National Bank Financial set a $50.00 target price on Camden National in a research report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Camden National currently has an average rating of “Hold” and a consensus target price of $52.25.

Camden National Trading Down 0.4%

The stock has a 50 day simple moving average of $48.08 and a 200-day simple moving average of $45.58. The firm has a market capitalization of $800.99 million, a P/E ratio of 10.07 and a beta of 0.56. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09.

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

Camden National Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 15th were paid a dividend of $0.42 per share. The ex-dividend date was Wednesday, April 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.5%. Camden National’s payout ratio is 35.74%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. grew its stake in shares of Camden National by 7.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,559,400 shares of the financial services provider’s stock valued at $60,177,000 after acquiring an additional 113,221 shares during the period. Dimensional Fund Advisors LP boosted its stake in Camden National by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 830,350 shares of the financial services provider’s stock worth $39,400,000 after purchasing an additional 8,205 shares during the period. State Street Corp boosted its stake in Camden National by 0.4% in the 4th quarter. State Street Corp now owns 475,268 shares of the financial services provider’s stock worth $20,617,000 after purchasing an additional 1,852 shares during the period. JPMorgan Chase & Co. boosted its stake in Camden National by 4.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 311,170 shares of the financial services provider’s stock worth $12,008,000 after purchasing an additional 13,849 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Camden National by 70.4% in the 4th quarter. Wellington Management Group LLP now owns 220,382 shares of the financial services provider’s stock worth $9,560,000 after purchasing an additional 91,018 shares during the period. 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.