Camden National (NASDAQ:CAC) Hits New 1-Year High – Time to Buy?

Camden National Corporation (NASDAQ:CAC)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $53.78 and last traded at $52.9340, with a volume of 7222 shares traded. The stock had previously closed at $52.78.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CAC shares. Keefe, Bruyette & Woods upped their price target on Camden National from $47.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, April 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $56.00 price objective on shares of Camden National in a report on Wednesday, April 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Camden National in a report on Tuesday, June 9th. Finally, National Bank Financial set a $50.00 price target on Camden National in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $52.25.

Camden National Stock Up 0.3%

The firm’s 50-day moving average price is $49.98 and its 200 day moving average price is $47.82. The firm has a market capitalization of $902.51 million, a price-to-earnings ratio of 11.33 and a beta of 0.56. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.82.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. The firm 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%. Sell-side analysts expect that Camden National Corporation will post 5.39 EPS for the current year.

Camden National Announces Dividend

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 of this dividend was Wednesday, April 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.1%. Camden National’s dividend payout ratio (DPR) is presently 35.74%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in 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 purchasing an additional 452 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Camden National by 13,790.0% during the third quarter. Russell Investments Group Ltd. now owns 1,389 shares of the financial services provider’s stock valued at $54,000 after buying an additional 1,379 shares during the period. Advisory Services Network LLC acquired a new stake in Camden National during the third quarter worth approximately $58,000. Nisa Investment Advisors LLC grew its stake in Camden National by 15,220.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,532 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 1,522 shares during the period. Finally, Parallel Advisors LLC grew its stake 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 worth $93,000 after acquiring an additional 1,041 shares during the period. Institutional investors and hedge funds own 77.41% of the company’s stock.

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.