Camden National Corporation (NASDAQ:CAC) Receives Average Rating of “Hold” from Brokerages

Camden National Corporation (NASDAQ:CAC) has been assigned a consensus rating of “Hold” from the five analysts that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $49.00.

CAC has been the subject of several research analyst reports. Weiss Ratings upgraded Camden National from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 19th. Keefe, Bruyette & Woods upped their target price on Camden National from $45.00 to $47.00 and gave the company a “market perform” rating in a research report on Wednesday, January 28th. Stephens reiterated an “equal weight” rating and issued a $53.00 price target on shares of Camden National in a report on Thursday, February 5th. Finally, National Bank Financial set a $47.00 price target on shares of Camden National in a research report on Wednesday, January 28th.

Camden National Stock Performance

Shares of CAC stock opened at $46.90 on Friday. The business has a fifty day moving average of $47.37 and a 200 day moving average of $43.06. Camden National has a 1 year low of $34.53 and a 1 year high of $51.57. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $793.55 million, a price-to-earnings ratio of 12.21 and a beta of 0.66.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.01. Camden National had a return on equity of 11.22% and a net margin of 17.46%. As a group, research analysts expect that Camden National will post 4.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC lifted its position in Camden National by 1.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 15,982 shares of the financial services provider’s stock valued at $693,000 after purchasing an additional 284 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its holdings in Camden National by 9.6% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 3,825 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 335 shares during the last quarter. Quantbot Technologies LP grew its position in Camden National by 11.9% during the 3rd quarter. Quantbot Technologies LP now owns 3,545 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 378 shares during the period. Intech Investment Management LLC grew its position in Camden National by 6.1% during the 3rd quarter. Intech Investment Management LLC now owns 7,282 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 421 shares during the period. Finally, Signaturefd LLC raised its stake in shares of Camden National by 2.2% during the 4th quarter. Signaturefd LLC now owns 20,592 shares of the financial services provider’s stock valued at $893,000 after buying an additional 434 shares during the last quarter. Hedge funds and other institutional investors own 77.41% of the company’s stock.

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.