Camden National Corporation (NASDAQ:CAC) Stock Has Average Price Target of $56.00

Shares of Camden National Corporation (NASDAQ:CAC) have earned an average rating of “Hold” from the six brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $56.00.

Several brokerages have recently weighed in on CAC. Hovde Group initiated coverage on Camden National in a research report on Tuesday, September 15th. They set a “hold” rating on the stock. Zacks Research lowered Camden National from a “hold” rating to a “strong sell” rating in a research note on Friday, October 30th. National Bank Financial set a $58.00 target price on Camden National in a research report on Wednesday, October 28th. Keefe, Bruyette & Woods lifted their price target on shares of Camden National from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings raised shares of Camden National from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th.

Camden National Stock Down 1.4%

NASDAQ CAC opened at $58.08 on Wednesday. Camden National has a twelve month low of $37.87 and a twelve month high of $60.59. The stock has a market cap of $981.55 million, a PE ratio of 10.94 and a beta of 0.58. The firm has a 50-day simple moving average of $57.03 and a 200 day simple moving average of $52.31. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.82 and a current ratio of 0.82.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, October 27th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.34. The firm had revenue of $66.77 million for the quarter, compared to analyst estimates of $67.91 million. Camden National had a return on equity of 12.71% and a net margin of 24.16%. On average, research analysts forecast that Camden National will post 5.33 EPS for the current year.

Camden National Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Thursday, October 15th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Thursday, October 15th. Camden National’s dividend payout ratio (DPR) is presently 31.64%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE acquired a new position in Camden National during the second quarter worth $1,709,000. Empowered Funds LLC boosted its stake in shares of Camden National by 322.3% in the 1st quarter. Empowered Funds LLC now owns 69,644 shares of the financial services provider’s stock valued at $3,305,000 after purchasing an additional 53,154 shares in the last quarter. Kimelman & Baird LLC bought a new stake in shares of Camden National in the 2nd quarter worth about $7,444,000. Globeflex Capital L P bought a new stake in shares of Camden National in the 2nd quarter worth about $1,033,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Camden National in the 2nd quarter worth about $1,591,000. Institutional investors and hedge funds own 77.41% of the company’s stock.

About Camden National

Camden National Corporation (NASDAQ:CAC) is a bank holding company headquartered in Camden, Maine. Through its principal subsidiary, Camden National Bank, the company provides banking and financial services to individuals, families, businesses and municipalities primarily across Maine.

Camden National Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, cash-management services and digital banking. Its offerings also include wealth management, trust and investment services designed to support customers with financial planning and asset management needs.

Founded in 1875, Camden National has developed a community-banking model supported by branches and banking offices throughout Maine.