Camden National (NASDAQ:CAC) Receives “Equal Weight” Rating from Stephens

Stephens reaffirmed their equal weight rating on shares of Camden National (NASDAQ:CAC) in a research note published on Thursday, Marketbeat reports. The firm currently has a $53.00 price objective on the financial services provider’s stock.

Several other research firms also recently commented on CAC. Janney Montgomery Scott upgraded Camden National to a “hold” rating in a research report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Camden National in a research note on Monday, December 29th. National Bankshares set a $47.00 target price on shares of Camden National in a research report on Wednesday, January 28th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Camden National from $45.00 to $47.00 and gave the stock a “market perform” rating in a report on Wednesday, January 28th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Camden National currently has a consensus rating of “Hold” and a consensus price target of $49.00.

Camden National Stock Performance

Shares of Camden National stock opened at $50.00 on Thursday. The company’s 50 day moving average price is $45.09 and its two-hundred day moving average price is $41.13. The firm has a market capitalization of $846 million, a P/E ratio of 13.02 and a beta of 0.66. Camden National has a fifty-two week low of $34.53 and a fifty-two week high of $51.57. 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 announced its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.01. Camden National had a return on equity of 11.39% and a net margin of 17.46%.The company had revenue of $68.05 million during the quarter, compared to analysts’ expectations of $66.40 million. On average, equities analysts forecast that Camden National will post 4.25 earnings per share for the current fiscal year.

Camden National Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Thursday, January 15th were issued a $0.42 dividend. The ex-dividend date was Thursday, January 15th. This represents a $1.68 annualized dividend and a yield of 3.4%. Camden National’s dividend payout ratio is presently 43.75%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new stake in shares of Camden National during the third quarter worth $26,000. Russell Investments Group Ltd. boosted its position 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 valued at $54,000 after acquiring an additional 1,379 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Camden National during the 3rd quarter worth about $58,000. Nisa Investment Advisors LLC raised its position 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 worth $66,000 after acquiring an additional 1,522 shares in the last quarter. Finally, CWM LLC raised its position 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 worth $121,000 after acquiring an additional 2,331 shares in the last quarter. Institutional investors and hedge funds own 77.41% of the company’s stock.

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.