Camden National Corporation (NASDAQ:CAC) Receives Average Recommendation of “Hold” from Analysts

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

Several research analysts have weighed in on the company. National Bank Financial set a $50.00 target price on Camden National in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Camden National in a research note on Tuesday, June 9th. Keefe, Bruyette & Woods lifted their target price on Camden National from $47.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, April 29th. Finally, Raymond James Financial reissued an “outperform” rating and set a $56.00 price target on shares of Camden National in a report on Wednesday, April 29th.

Camden National Stock Performance

Shares of CAC stock opened at $52.68 on Wednesday. The business’s 50 day moving average is $49.63 and its two-hundred day moving average is $47.22. Camden National has a twelve month low of $35.00 and a twelve month high of $53.71. The company has a market capitalization of $891.35 million, a P/E ratio of 11.21 and a beta of 0.57. 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 (NASDAQ:CAC) last announced its earnings results on Tuesday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.03. Camden National had a return on equity of 11.78% and a net margin of 21.32%.The company had revenue of $64.34 million for the quarter, compared to the consensus estimate of $65.57 million. Equities analysts forecast that Camden National will post 5.39 EPS for the current year.

Camden National Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 15th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, April 15th. Camden National’s dividend payout ratio is currently 35.74%.

Institutional Trading of Camden National

Several hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC lifted its holdings in shares of Camden National by 1.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 15,982 shares of the financial services provider’s stock valued at $693,000 after buying an additional 284 shares during the period. Quantbot Technologies LP lifted its holdings in shares of Camden National by 11.9% in the 3rd quarter. Quantbot Technologies LP now owns 3,545 shares of the financial services provider’s stock valued at $137,000 after buying an additional 378 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Camden National by 6.1% in the 3rd quarter. Intech Investment Management LLC now owns 7,282 shares of the financial services provider’s stock valued at $281,000 after buying an additional 421 shares during the period. Signaturefd LLC lifted its holdings in shares of Camden National by 2.2% in 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 period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of 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 buying an additional 452 shares during the period. 77.41% of the stock is owned by institutional investors and hedge funds.

About Camden National

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.