Camden National Corporation (NASDAQ:CAC) Receives Average Recommendation of “Hold” from Brokerages

Shares of Camden National Corporation (NASDAQ:CAC) have been given an average rating of “Hold” by the six analysts that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $52.75.

CAC has been the subject of several analyst reports. Keefe, Bruyette & Woods raised 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 report on Wednesday, April 29th. Raymond James Financial lifted their target price on Camden National from $56.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. National Bank Financial set a $50.00 price target on Camden National in a report on Wednesday, April 29th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Camden National in a research report on Tuesday, June 9th.

Camden National Stock Up 1.5%

Shares of NASDAQ:CAC opened at $53.67 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $50.86 and a two-hundred day simple moving average of $48.55. Camden National has a 12-month low of $35.00 and a 12-month high of $56.22. The stock has a market capitalization of $908.10 million, a price-to-earnings ratio of 11.42 and a beta of 0.55.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. The firm had revenue of $64.34 million during the quarter, compared to analyst estimates of $65.57 million. Camden National had a return on equity of 11.78% and a net margin of 21.32%. On average, research analysts anticipate that Camden National will post 5.37 earnings per share for the current fiscal year.

Camden National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, July 15th. Camden National’s dividend payout ratio (DPR) is presently 35.74%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CAC. PNC Financial Services Group Inc. boosted its holdings in Camden National by 106.1% in the first quarter. PNC Financial Services Group Inc. now owns 878 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 452 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of 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 valued at $54,000 after buying an additional 1,379 shares during the period. Advisory Services Network LLC purchased a new position in shares of Camden National in the 3rd quarter worth $58,000. Nisa Investment Advisors LLC grew its holdings in shares of Camden National by 15,220.0% in the fourth 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 during the period. Finally, Kestra Advisory Services LLC purchased a new stake in Camden National during the fourth quarter valued at $92,000. 77.41% of the stock is owned by hedge funds and other institutional investors.

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.