Brokerages Set Camden National Corporation (NASDAQ:CAC) PT at $48.00

Camden National Corporation (NASDAQ:CAC) has earned a consensus recommendation of “Hold” from the six analysts that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $46.75.

CAC has been the topic of a number of recent research reports. National Bankshares set a $45.00 price objective on Camden National in a research report on Wednesday. Stephens upgraded Camden National from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $49.00 to $44.00 in a research report on Wednesday, August 6th. Janney Montgomery Scott upgraded Camden National to a “hold” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Camden National in a research report on Tuesday, October 14th. Finally, Zacks Research upgraded Camden National to a “hold” rating in a research report on Tuesday, August 12th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CAC. Bank of New York Mellon Corp boosted its position in shares of Camden National by 4.4% in the 1st quarter. Bank of New York Mellon Corp now owns 92,084 shares of the financial services provider’s stock worth $3,727,000 after purchasing an additional 3,848 shares during the last quarter. Alps Advisors Inc. bought a new position in shares of Camden National in the 1st quarter worth $351,000. CWM LLC boosted its position in shares of Camden National by 65.4% in the 1st quarter. CWM LLC now owns 837 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 331 shares during the last quarter. Segall Bryant & Hamill LLC boosted its position in shares of Camden National by 15.2% in the 1st quarter. Segall Bryant & Hamill LLC now owns 48,229 shares of the financial services provider’s stock worth $1,952,000 after purchasing an additional 6,376 shares during the last quarter. Finally, KLP Kapitalforvaltning AS boosted its position in shares of Camden National by 29.2% in the 1st quarter. KLP Kapitalforvaltning AS now owns 3,100 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 700 shares during the last quarter. 77.41% of the stock is currently owned by institutional investors.

Camden National Trading Down 1.6%

CAC stock opened at $38.15 on Tuesday. The business has a fifty day moving average price of $38.99 and a 200 day moving average price of $39.54. Camden National has a fifty-two week low of $34.53 and a fifty-two week high of $50.07. The stock has a market capitalization of $645.50 million, a price-to-earnings ratio of 10.87 and a beta of 0.64. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.81 and a quick ratio of 0.81.

Camden National (NASDAQ:CAC) last released its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.01. The firm had revenue of $65.40 million during the quarter, compared to analysts’ expectations of $63.20 million. Camden National had a return on equity of 11.06% and a net margin of 16.24%. Analysts expect that Camden National will post 4.25 EPS for the current fiscal year.

Camden National Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Wednesday, October 15th. Camden National’s dividend payout ratio (DPR) is currently 47.86%.

About Camden National

Camden National Corporation operates as the bank holding company for Camden National Bank that provides various commercial and consumer banking products and services for consumer, institutional, municipal, non-profit, and commercial customers in Maine, New Hampshire, and Massachusetts. The company accepts checking, savings, time, and brokered deposits, as well as deposits with the certificate of deposit account registry system.