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

Shares of Camden National Corporation (NASDAQ:CAC) have been given a consensus recommendation of “Hold” by the five research firms that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation. The average 12-month target price among analysts that have covered the stock in the last year is $49.00.

A number of research analysts have weighed in on the company. National Bankshares set a $47.00 price target on Camden National in a research note on Wednesday, January 28th. Stephens reiterated an “equal weight” rating and set a $53.00 target price on shares of Camden National in a research report on Thursday. Weiss Ratings reissued a “hold (c+)” rating on shares of Camden National in a research note on Monday, December 29th. Keefe, Bruyette & Woods lifted their price target on Camden National from $45.00 to $47.00 and gave the company a “market perform” rating in a report on Wednesday, January 28th. Finally, Janney Montgomery Scott raised shares of Camden National to a “hold” rating in a research note on Wednesday, October 22nd.

Camden National Price Performance

NASDAQ:CAC opened at $50.34 on Thursday. Camden National has a 12-month low of $34.53 and a 12-month high of $51.57. The firm has a market cap of $851.84 million, a price-to-earnings ratio of 13.08 and a beta of 0.66. The company’s 50-day moving average is $44.90 and its two-hundred day moving average is $41.07. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.01. Camden National had a net margin of 17.46% and a return on equity of 11.39%. The business had revenue of $68.05 million during the quarter, compared to analyst estimates of $66.40 million. Research analysts expect that Camden National will post 4.25 EPS for the current year.

Camden National Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Thursday, January 15th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, January 15th. This represents a $1.68 dividend on an annualized basis and a yield of 3.3%. Camden National’s dividend payout ratio (DPR) is currently 43.75%.

Institutional Trading of Camden National

A number of institutional investors and hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in shares of Camden National in the 3rd quarter worth $26,000. Russell Investments Group Ltd. increased its stake in 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 worth $54,000 after acquiring an additional 1,379 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Camden National in the 3rd quarter worth about $58,000. Nisa Investment Advisors LLC lifted its stake in shares of 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 valued at $66,000 after purchasing an additional 1,522 shares in the last quarter. Finally, CWM LLC lifted its stake in shares of Camden National by 287.8% in the 3rd quarter. CWM LLC now owns 3,141 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 2,331 shares in the last quarter. 77.41% of the stock is currently 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.