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

Shares of Camden National Corporation (NASDAQ:CAC) have received a consensus rating of “Hold” from the five ratings firms that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $49.00.

Several brokerages have recently weighed in on CAC. National Bankshares set a $47.00 target price on Camden National in a research report on Wednesday, January 28th. Keefe, Bruyette & Woods boosted their price target 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 reaffirmed an “equal weight” rating and issued a $53.00 price objective on shares of Camden National in a research report on Thursday. Janney Montgomery Scott upgraded shares of Camden National to a “hold” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Camden National in a research note on Monday, December 29th.

Camden National Price Performance

Camden National stock opened at $50.34 on Thursday. Camden National has a 52-week low of $34.53 and a 52-week high of $51.57. The firm has a fifty day moving average of $44.90 and a 200-day moving average of $41.07. The firm has a market capitalization of $851.84 million, a P/E ratio of 13.08 and a beta of 0.66. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.09.

Camden National (NASDAQ:CAC) last posted 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%. The business had revenue of $68.05 million for the quarter, compared to analyst estimates of $66.40 million. As a group, analysts predict that Camden National will post 4.25 EPS for the current year.

Camden National Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Thursday, January 15th were paid a dividend of $0.42 per share. The ex-dividend date was Thursday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.3%. Camden National’s dividend payout ratio (DPR) is currently 43.75%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. grew its stake in Camden National by 7.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,559,400 shares of the financial services provider’s stock valued at $60,177,000 after purchasing an additional 113,221 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Camden National by 0.5% during the second quarter. Geode Capital Management LLC now owns 408,288 shares of the financial services provider’s stock worth $16,571,000 after purchasing an additional 2,187 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Camden National by 4.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 311,170 shares of the financial services provider’s stock worth $12,008,000 after buying an additional 13,849 shares during the last quarter. Clean Yield Group lifted its stake in Camden National by 1.2% during the third quarter. Clean Yield Group now owns 102,607 shares of the financial services provider’s stock worth $3,960,000 after purchasing an additional 1,198 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in shares of Camden National by 5.0% in the 2nd quarter. Bridgeway Capital Management LLC now owns 86,290 shares of the financial services provider’s stock worth $3,502,000 after buying an additional 4,147 shares during the last quarter. Hedge funds and other institutional investors own 77.41% of the company’s stock.

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.