Camden National Corporation (NASDAQ:CAC) Given Average Rating of “Hold” by Brokerages

Shares of Camden National Corporation (NASDAQ:CAC) have been given an average recommendation of “Hold” by the five research firms that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $49.00.

A number of equities analysts recently commented on CAC shares. National Bank Financial set a $47.00 target price on shares of Camden National in a research note on Wednesday, January 28th. Keefe, Bruyette & Woods upped their price objective on Camden National from $45.00 to $47.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 28th. Stephens reiterated an “equal weight” rating and issued a $53.00 price objective on shares of Camden National in a report on Thursday, February 5th. Finally, Weiss Ratings upgraded Camden National from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 19th.

Camden National Stock Down 4.3%

CAC stock opened at $46.16 on Monday. The company’s 50 day moving average price is $46.74 and its 200 day moving average price is $42.29. The firm has a market capitalization of $781.12 million, a price-to-earnings ratio of 12.02 and a beta of 0.66. Camden National has a fifty-two week low of $34.53 and a fifty-two week high of $51.57. 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 (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.01. Camden National had a net margin of 17.46% and a return on equity of 11.39%. The company had revenue of $68.05 million during the quarter, compared to the consensus estimate of $66.40 million. On average, equities research analysts anticipate that Camden National will post 4.25 EPS for the current fiscal year.

Camden National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Thursday, January 15th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Thursday, January 15th. Camden National’s payout ratio is currently 43.75%.

Institutional Investors Weigh In On Camden National

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue acquired a new position in Camden National in the third quarter valued at $26,000. Russell Investments Group Ltd. increased its position in shares of Camden National by 13,790.0% during the third quarter. Russell Investments Group Ltd. now owns 1,389 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 1,379 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Camden National in the 3rd quarter valued at about $58,000. Nisa Investment Advisors LLC boosted its position in shares of Camden National by 15,220.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,532 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 1,522 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in Camden National during the 4th quarter worth approximately $92,000. 77.41% of the stock is currently owned by institutional investors and hedge funds.

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.