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

Camden National Corporation (NASDAQ:CAC) has earned a consensus recommendation of “Hold” from the six research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $56.00.

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

Institutional Trading of Camden National

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. boosted its holdings in shares of Camden National by 8.4% during the third quarter. Hantz Financial Services Inc. now owns 21,409 shares of the financial services provider’s stock worth $1,185,000 after purchasing an additional 1,665 shares during the last quarter. Addison Advisors LLC acquired a new stake in shares of Camden National in the third quarter worth approximately $276,000. Russell Investments Group Ltd. grew its holdings in Camden National by 5.3% in the third quarter. Russell Investments Group Ltd. now owns 9,851 shares of the financial services provider’s stock valued at $545,000 after purchasing an additional 493 shares during the period. R Squared Ltd increased its position in Camden National by 48.3% during the third quarter. R Squared Ltd now owns 6,291 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 2,049 shares during the last quarter. Finally, Ethic Inc. purchased a new position in shares of Camden National in the 3rd quarter worth $215,000. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Camden National Stock Performance

Shares of CAC opened at $58.79 on Wednesday. The stock has a market capitalization of $993.37 million, a P/E ratio of 11.07 and a beta of 0.58. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.82 and a current ratio of 0.82. Camden National has a 1 year low of $37.87 and a 1 year high of $60.99. The company’s fifty day moving average is $57.23 and its two-hundred day moving average is $52.62.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, October 27th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.34. Camden National had a net margin of 24.16% and a return on equity of 12.71%. The business had revenue of $68.67 million for the quarter, compared to analyst estimates of $67.91 million. On average, sell-side analysts predict that Camden National will post 5.33 earnings per share for the current year.

Camden National Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Thursday, October 15th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, October 15th. This represents a $1.68 annualized dividend and a yield of 2.9%. Camden National’s dividend payout ratio (DPR) is presently 31.64%.

About Camden National

Camden National Bancorp, Inc. is a bank holding company headquartered in Camden, Maine. Its principal subsidiary, Camden National Bank, traces its roots to 1875 and provides banking and financial services to individuals, businesses and institutions. The bank offers personal and business deposit accounts, lending, mortgage and cash-management services, as well as wealth management, trust and investment services. Its service area is centered in Maine, where it operates branches and serves customers across the state.