Camden National Corporation (CAC) – What Are Researchers Thinking About This Stock?

Shares of Camden National Corporation (NASDAQ:CAC) have been given an average rating of “Hold” by the six research firms that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $56.50.

Several analysts recently weighed in on the company. Weiss Ratings upgraded Camden National from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Keefe, Bruyette & Woods lifted their target price on Camden National from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Hovde Group assumed coverage on Camden National in a research note on Tuesday, September 15th. They set a “hold” rating for the company. National Bank Financial set a $60.00 target price on shares of Camden National in a report on Tuesday, September 15th. Finally, Raymond James Financial increased their target price on shares of Camden National from $56.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st.

Camden National Price Performance

CAC traded up $0.25 during trading on Friday, hitting $56.12. 102,144 shares of the stock traded hands, compared to its average volume of 90,973. The business has a 50 day moving average price of $57.06 and a 200 day moving average price of $53.61. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.82. Camden National has a twelve month low of $35.43 and a twelve month high of $60.59. The company has a market cap of $948.43 million, a price-to-earnings ratio of 10.75 and a beta of 0.57.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, July 28th. The financial services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.06. Camden National had a return on equity of 12.59% and a net margin of 23.64%. The firm had revenue of $67.41 million for the quarter, compared to the consensus estimate of $66.41 million. Equities research analysts forecast that Camden National will post 5.36 earnings per share for the current fiscal year.

Camden National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $1.68 annualized dividend and a yield of 3.0%. Camden National’s dividend payout ratio is presently 32.18%.

Institutional Trading of Camden National

A number of hedge funds have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC bought a new position in shares of Camden National in the 2nd quarter valued at $470,000. Integrated Wealth Concepts LLC bought a new stake in Camden National during the 2nd quarter worth $67,000. Susquehanna Fundamental Investments LLC grew its position in Camden National by 7.8% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 12,430 shares of the financial services provider’s stock worth $674,000 after acquiring an additional 895 shares during the last quarter. Sheets Smith Wealth Management grew its position in Camden National by 2.5% during the 2nd quarter. Sheets Smith Wealth Management now owns 14,683 shares of the financial services provider’s stock worth $796,000 after acquiring an additional 363 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Camden National by 28.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,754 shares of the financial services provider’s stock worth $1,505,000 after purchasing an additional 6,166 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 the bank holding company for Camden National Bank, a community banking institution headquartered in Camden, Maine. Founded in 1875, the company provides banking and financial services to individuals, families, businesses and municipal organizations.

Camden National Bank offers deposit accounts, consumer and commercial loans, residential mortgages, cash-management services and other traditional banking products. Through its wealth management operations, the company also provides investment management, trust, financial planning and related advisory services.

The company primarily serves customers across Maine through a network of banking offices, lending teams and digital banking services.