Camden National Corporation (NASDAQ:CAC) Given Consensus Rating of “Hold” by Brokerages

Shares of Camden National Corporation (NASDAQ:CAC) have earned an average rating of “Hold” from the six research firms that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $52.25.

CAC has been the topic of a number of research analyst reports. Raymond James Financial reissued an “outperform” rating and issued a $56.00 price target on shares of Camden National in a research note on Wednesday, April 29th. National Bank Financial set a $50.00 price target on shares of Camden National in a research note on Wednesday, April 29th. Keefe, Bruyette & Woods boosted their price target on shares of 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, Weiss Ratings reissued a “buy (b)” rating on shares of Camden National in a research note on Tuesday, June 9th.

Institutional Investors Weigh In On Camden National

Several large investors have recently added to or reduced their stakes in CAC. PNC Financial Services Group Inc. increased its stake in Camden National by 106.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 878 shares of the financial services provider’s stock worth $42,000 after buying an additional 452 shares during the period. Russell Investments Group Ltd. increased its stake in Camden National by 13,790.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,389 shares of the financial services provider’s stock worth $54,000 after buying an additional 1,379 shares during the period. Advisory Services Network LLC purchased a new stake in Camden National during the 3rd quarter worth approximately $58,000. Nisa Investment Advisors LLC increased its stake in Camden National by 15,220.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,532 shares of the financial services provider’s stock worth $66,000 after buying an additional 1,522 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in Camden National during the 4th quarter worth approximately $92,000. 77.41% of the stock is owned by hedge funds and other institutional investors.

Camden National Price Performance

Shares of CAC stock opened at $51.79 on Wednesday. The firm’s 50-day moving average is $49.77 and its two-hundred day moving average is $47.38. The company has a market capitalization of $876.03 million, a PE ratio of 11.02 and a beta of 0.57. Camden National has a 12 month low of $35.00 and a 12 month high of $53.71. 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 released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. The business had revenue of $64.34 million for the quarter, compared to the consensus estimate of $65.57 million. Camden National had a net margin of 21.32% and a return on equity of 11.78%. Analysts predict that Camden National will post 5.39 earnings per share for the current year.

Camden National Announces Dividend

The firm also recently announced 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. 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 presently 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.