Analysts Set $47.00 Target Price for Camden National Co. (CAC)
Camden National Co. (NASDAQ:CAC) has received a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. Camden National’s rating score has declined by 100% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a 1 year consensus price target of $47.00 for the company and are predicting that the company will post $0.69 EPS for the current quarter, according to Zacks. Zacks has also assigned Camden National an industry rank of 17 out of 265 based on the ratings given to its competitors.
A number of research analysts have weighed in on the stock. BidaskClub lowered shares of Camden National from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Keefe, Bruyette & Woods restated a “hold” rating and set a $48.00 price objective on shares of Camden National in a report on Friday, December 22nd.
Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, October 31st. The financial services provider reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.03. Camden National had a net margin of 24.70% and a return on equity of 10.56%. equities analysts expect that Camden National will post 2.68 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Monday, January 15th will be issued a dividend of $0.25 per share. This is an increase from Camden National’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.29%. Camden National’s payout ratio is presently 36.76%.
In other news, EVP Edmund M. Hayden sold 2,340 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $45.56, for a total transaction of $106,610.40. Following the transaction, the executive vice president now owns 7,958 shares in the company, valued at approximately $362,566.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Joanne T. Campbell sold 2,271 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $44.05, for a total transaction of $100,037.55. Following the transaction, the executive vice president now owns 17,916 shares in the company, valued at approximately $789,199.80. The disclosure for this sale can be found here. Insiders own 2.34% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP bought a new stake in Camden National in the third quarter valued at about $620,000. Walthausen & Co. LLC bought a new stake in Camden National in the third quarter valued at about $2,534,000. OxFORD Asset Management LLP increased its stake in Camden National by 22.6% in the third quarter. OxFORD Asset Management LLP now owns 18,859 shares of the financial services provider’s stock valued at $834,000 after acquiring an additional 3,474 shares during the period. Dimensional Fund Advisors LP increased its stake in Camden National by 3.4% in the third quarter. Dimensional Fund Advisors LP now owns 701,020 shares of the financial services provider’s stock valued at $30,593,000 after acquiring an additional 23,161 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in Camden National by 3.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 85,644 shares of the financial services provider’s stock valued at $3,738,000 after acquiring an additional 3,151 shares during the period. 63.44% of the stock is currently owned by institutional investors and hedge funds.
Camden National 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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