Camden National Corporation (NASDAQ:CAC) Receives Consensus Rating of “Hold” from Analysts

Shares of Camden National Corporation (NASDAQ:CAC) have received a consensus recommendation of “Hold” from the six research firms that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $46.75.

Several analysts have recently commented on CAC shares. Keefe, Bruyette & Woods increased their price objective on Camden National from $44.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday, October 29th. Janney Montgomery Scott raised Camden National to a “hold” rating in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Camden National in a report on Monday, December 29th. Finally, National Bankshares set a $45.00 price target on Camden National in a research note on Wednesday, October 29th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. acquired a new position in shares of Camden National in the 3rd quarter valued at $2,897,000. Delphi Management Inc. MA lifted its position in Camden National by 158.5% during the 2nd quarter. Delphi Management Inc. MA now owns 31,788 shares of the financial services provider’s stock worth $1,290,000 after acquiring an additional 19,493 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Camden National during the 2nd quarter valued at about $278,000. KLP Kapitalforvaltning AS increased its holdings in shares of Camden National by 77.4% in the second quarter. KLP Kapitalforvaltning AS now owns 5,500 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 2,400 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Camden National by 0.5% in the second quarter. Geode Capital Management LLC now owns 408,288 shares of the financial services provider’s stock valued at $16,571,000 after purchasing an additional 2,187 shares during the period. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Camden National Stock Down 1.0%

NASDAQ:CAC opened at $44.65 on Friday. The company’s 50-day simple moving average is $42.22 and its 200-day simple moving average is $40.52. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.81. Camden National has a fifty-two week low of $34.53 and a fifty-two week high of $46.80. The stock has a market capitalization of $755.48 million, a P/E ratio of 12.72 and a beta of 0.65.

Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, October 28th. The financial services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.01. The company had revenue of $116.67 million during the quarter, compared to analysts’ expectations of $63.20 million. Camden National had a net margin of 16.24% and a return on equity of 10.76%. On average, equities analysts anticipate that Camden National will post 4.25 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 15th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Thursday, January 15th. Camden National’s payout ratio is currently 47.86%.

About Camden National

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.