Camden National (NASDAQ:CAC) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Camden National Corporation (NASDAQ:CAC)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $45.57 and traded as high as $48.37. Camden National shares last traded at $47.53, with a volume of 83,760 shares.

Analyst Ratings Changes

Several analysts have weighed in on CAC shares. Weiss Ratings raised shares of Camden National from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 19th. Keefe, Bruyette & Woods upped their price objective on shares of Camden National from $47.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 29th. Stephens reaffirmed an “equal weight” rating and set a $53.00 price objective on shares of Camden National in a research note on Thursday, February 5th. National Bank Financial set a $50.00 price objective on shares of Camden National in a research note on Wednesday, April 29th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $56.00 price objective on shares of Camden National in a research note on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $52.25.

Camden National Price Performance

The stock’s 50-day moving average price is $48.08 and its 200-day moving average price is $45.57. The company has a market capitalization of $804.21 million, a price-to-earnings ratio of 10.11 and a beta of 0.56. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.09.

Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. Camden National had a net margin of 21.32% and a return on equity of 11.78%. The company had revenue of $64.34 million for the quarter, compared to analyst estimates of $65.57 million. Equities research analysts anticipate that Camden National Corporation will post 5.39 earnings per share for the current year.

Camden National Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Wednesday, April 15th. Camden National’s dividend payout ratio is presently 35.74%.

Hedge Funds Weigh In On Camden National

A number of large investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its position in shares of Camden National by 7.8% during the third quarter. Franklin Resources Inc. now owns 1,559,400 shares of the financial services provider’s stock worth $60,177,000 after purchasing an additional 113,221 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Camden National by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 830,350 shares of the financial services provider’s stock worth $39,400,000 after purchasing an additional 8,205 shares in the last quarter. State Street Corp lifted its position in shares of Camden National by 0.4% during the fourth quarter. State Street Corp now owns 475,268 shares of the financial services provider’s stock worth $20,617,000 after purchasing an additional 1,852 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Camden National by 4.7% in the third quarter. JPMorgan Chase & Co. now owns 311,170 shares of the financial services provider’s stock valued at $12,008,000 after buying an additional 13,849 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Camden National by 70.4% in the fourth quarter. Wellington Management Group LLP now owns 220,382 shares of the financial services provider’s stock valued at $9,560,000 after buying an additional 91,018 shares during the period. 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.