Brokerages Set Camden National Corporation (NASDAQ:CAC) PT at $52.25

Camden National Corporation (NASDAQ:CAC) has been given a consensus recommendation of “Hold” by the six ratings firms that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $52.25.

CAC has been the topic of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Camden National in a report on Tuesday. Keefe, Bruyette & Woods boosted their price objective on Camden National from $47.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, April 29th. Raymond James Financial reiterated an “outperform” rating and issued a $56.00 price objective on shares of Camden National in a report on Wednesday, April 29th. Finally, National Bank Financial set a $50.00 price objective on Camden National in a report on Wednesday, April 29th.

Camden National Price Performance

NASDAQ:CAC opened at $52.68 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $891.35 million, a P/E ratio of 11.21 and a beta of 0.56. Camden National has a 52 week low of $35.00 and a 52 week high of $53.71. The stock’s fifty day moving average is $49.63 and its two-hundred day moving average is $47.17.

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

Camden National Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders 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 annualized dividend and a yield of 3.2%. Camden National’s dividend payout ratio is 35.74%.

Institutional Investors Weigh In On Camden National

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in Camden National by 4.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 311,170 shares of the financial services provider’s stock worth $12,008,000 after purchasing an additional 13,849 shares during the period. UBS Group AG increased its holdings in Camden National by 47.2% during the 4th quarter. UBS Group AG now owns 58,395 shares of the financial services provider’s stock worth $2,533,000 after purchasing an additional 18,722 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Camden National by 2,802.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 64,348 shares of the financial services provider’s stock worth $2,791,000 after purchasing an additional 62,131 shares during the period. Abacus Wealth Partners LLC purchased a new stake in Camden National during the 4th quarter worth about $811,000. Finally, Globeflex Capital L P increased its holdings in Camden National by 87.2% during the 4th quarter. Globeflex Capital L P now owns 28,948 shares of the financial services provider’s stock worth $1,256,000 after purchasing an additional 13,486 shares during the period. Hedge funds and other institutional investors 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.