Zacks: Camden National Corporation (CAC) Receives Consensus Recommendation of “Buy” from Analysts
Camden National Corporation (NASDAQ:CAC) has earned a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. Camden National Corporation’s rating score has declined by 33.3% in the last three months as a result of various analysts’ ratings changes.
Brokerages have set a one year consensus target price of $46.00 for the company and are forecasting that the company will post $0.68 EPS for the current quarter, according to Zacks. Zacks has also assigned Camden National Corporation an industry rank of 162 out of 265 based on the ratings given to its competitors.
Several brokerages recently commented on CAC. BidaskClub lowered shares of Camden National Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Keefe, Bruyette & Woods lowered shares of Camden National Corporation from an “outperform” rating to a “market perform” rating in a research report on Wednesday.
Camden National Corporation (NASDAQ CAC) traded up $1.15 during trading hours on Friday, hitting $43.15. 27,550 shares of the stock were exchanged, compared to its average volume of 33,183. The company has a market cap of $669.52, a PE ratio of 15.86 and a beta of 0.78. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.17. Camden National Corporation has a twelve month low of $32.64 and a twelve month high of $45.43.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 13th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Thursday, October 12th. Camden National Corporation’s payout ratio is currently 33.82%.
In other Camden National Corporation news, Director John W. Holmes purchased 1,000 shares of Camden National Corporation stock in a transaction on Wednesday, September 6th. The stock was bought at an average cost of $38.57 per share, with a total value of $38,570.00. Following the transaction, the director now owns 18,356 shares of the company’s stock, valued at approximately $707,990.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carl John Soderberg purchased 3,000 shares of Camden National Corporation stock in a transaction on Tuesday, September 5th. The shares were acquired at an average cost of $38.46 per share, with a total value of $115,380.00. Following the completion of the transaction, the director now directly owns 59,323 shares in the company, valued at approximately $2,281,562.58. The disclosure for this purchase can be found here. Insiders purchased a total of 5,000 shares of company stock valued at $192,900 over the last ninety days. 2.34% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CAC. LSV Asset Management raised its position in Camden National Corporation by 41.7% during the 2nd quarter. LSV Asset Management now owns 658,688 shares of the financial services provider’s stock worth $28,264,000 after buying an additional 193,979 shares during the last quarter. BTIM Corp. purchased a new position in Camden National Corporation during the 2nd quarter worth approximately $7,207,000. Clearbridge Investments LLC purchased a new position in Camden National Corporation during the 1st quarter worth approximately $1,952,000. Vanguard Group Inc. raised its position in Camden National Corporation by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 640,571 shares of the financial services provider’s stock worth $28,211,000 after buying an additional 42,931 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Camden National Corporation by 11.8% during the 2nd quarter. Renaissance Technologies LLC now owns 396,149 shares of the financial services provider’s stock worth $16,999,000 after buying an additional 41,700 shares during the last quarter. 64.82% of the stock is owned by institutional investors.
Camden National Corporation Company Profile
Camden National Corporation is a bank holding company. The Company is a diversified financial services provider. The primary business of the Company and its subsidiary, Camden National Bank (the Bank), is to attract deposits from, and to extend loans to, consumer, institutional, municipal, non-profit and commercial customers.
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