Camden National Corporation (NASDAQ:CAC) Given Average Recommendation of “Hold” by Brokerages

Shares of Camden National Corporation (NASDAQ:CAC) have been given a consensus recommendation of “Hold” by the six research firms that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $52.25.

CAC has been the subject of a number of research reports. National Bank Financial set a $50.00 target price on shares of Camden National in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods lifted their price target on shares of Camden National from $47.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, April 29th. Stephens reiterated an “equal weight” rating and set a $53.00 price target on shares of Camden National in a report on Thursday, February 5th. Raymond James Financial reiterated an “outperform” rating and set a $56.00 price target on shares of Camden National in a report on Wednesday, April 29th. Finally, Weiss Ratings upgraded shares of Camden National from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 19th.

Institutional Investors Weigh In On Camden National

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC grew its stake in Camden National by 151.1% during the first quarter. AQR Capital Management LLC now owns 24,455 shares of the financial services provider’s stock worth $990,000 after buying an additional 14,715 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Camden National by 20.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,925 shares of the financial services provider’s stock worth $402,000 after buying an additional 1,661 shares during the period. Empowered Funds LLC lifted its position in shares of Camden National by 8.4% during the first quarter. Empowered Funds LLC now owns 43,043 shares of the financial services provider’s stock worth $1,742,000 after purchasing an additional 3,318 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Camden National during the first quarter worth $1,019,000. Finally, Legal & General Group Plc lifted its position in shares of Camden National by 8.5% during the second quarter. Legal & General Group Plc now owns 18,178 shares of the financial services provider’s stock worth $738,000 after purchasing an additional 1,423 shares in the last quarter. 77.41% of the stock is currently owned by hedge funds and other institutional investors.

Camden National Stock Down 0.4%

Shares of NASDAQ CAC opened at $47.34 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.09. Camden National has a 52 week low of $35.00 and a 52 week high of $53.71. The firm has a 50-day moving average price of $48.08 and a 200 day moving average price of $45.58. The stock has a market capitalization of $800.99 million, a price-to-earnings ratio of 10.07 and a beta of 0.56.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.26 by $0.03. The firm had revenue of $64.34 million during the quarter, compared to analysts’ expectations of $65.57 million. Camden National had a net margin of 21.32% and a return on equity of 11.78%. Equities research analysts anticipate that Camden National will post 5.39 EPS for the current fiscal year.

Camden National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th were issued 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%.

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.