Camden National Corporation (NASDAQ:CAC) Receives Average Recommendation of “Hold” from Analysts

Camden National Corporation (NASDAQ:CAC) has earned a consensus rating of “Hold” from the five ratings firms that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $49.00.

CAC has been the subject of a number of recent analyst reports. Weiss Ratings raised Camden National from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 19th. Stephens reissued an “equal weight” rating and issued a $53.00 price target on shares of Camden National in a report on Thursday, February 5th. Keefe, Bruyette & Woods upped their price objective on shares of Camden National from $45.00 to $47.00 and gave the company a “market perform” rating in a report on Wednesday, January 28th. Finally, National Bank Financial set a $47.00 target price on shares of Camden National in a research note on Wednesday, January 28th.

Institutional Investors Weigh In On Camden National

Large investors have recently made changes to their positions in the stock. Dean Capital Management lifted its position in Camden National by 106.4% during the 4th quarter. Dean Capital Management now owns 39,251 shares of the financial services provider’s stock worth $1,703,000 after acquiring an additional 20,233 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Camden National by 21.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,453 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 1,136 shares during the period. EP Wealth Advisors LLC purchased a new stake in Camden National in the fourth quarter valued at approximately $238,000. NewEdge Advisors LLC acquired a new position in Camden National in the 4th quarter worth approximately $414,000. Finally, Wellington Management Group LLP increased its holdings in Camden National by 70.4% in the 4th quarter. Wellington Management Group LLP now owns 220,382 shares of the financial services provider’s stock worth $9,560,000 after buying an additional 91,018 shares during the period. 77.41% of the stock is owned by hedge funds and other institutional investors.

Camden National Trading Down 0.4%

NASDAQ CAC opened at $45.92 on Monday. Camden National has a 52 week low of $34.53 and a 52 week high of $51.57. The company has a 50 day moving average price of $46.91 and a 200 day moving average price of $42.51. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.09. The firm has a market cap of $776.97 million, a PE ratio of 11.96 and a beta of 0.66.

Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, January 27th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.01. Camden National had a net margin of 17.46% and a return on equity of 11.39%. As a group, sell-side analysts forecast that Camden National will post 4.25 EPS for the current fiscal year.

Camden National Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Thursday, January 15th were issued a $0.42 dividend. The ex-dividend date of this dividend was Thursday, January 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.7%. Camden National’s dividend payout ratio (DPR) is currently 43.75%.

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.