Camden National Corporation (NASDAQ:CAC) Given Consensus Recommendation of “Hold” by Analysts

Shares of Camden National Corporation (NASDAQ:CAC) have earned a consensus recommendation of “Hold” from the five ratings firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $49.00.

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

Institutional Trading of Camden National

Several institutional investors and hedge funds have recently modified their holdings of CAC. Hsbc Holdings PLC purchased a new stake in shares of Camden National during the 4th quarter valued at $327,000. Dean Capital Management increased its position in shares of Camden National by 106.4% during the 4th quarter. Dean Capital Management now owns 39,251 shares of the financial services provider’s stock valued at $1,703,000 after purchasing an additional 20,233 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Camden National by 21.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,453 shares of the financial services provider’s stock valued at $280,000 after buying an additional 1,136 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in Camden National in the 4th quarter worth approximately $238,000. Finally, NewEdge Advisors LLC bought a new position in Camden National during the fourth quarter valued at approximately $414,000. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Camden National Stock Performance

Shares of Camden National stock opened at $48.23 on Friday. The company’s 50 day moving average price is $47.51 and its two-hundred day moving average price is $43.30. The firm has a market capitalization of $816.05 million, a P/E ratio of 12.56 and a beta of 0.58. 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 current ratio of 0.81 and a quick ratio of 0.81.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, January 27th. The financial services provider reported $1.33 earnings per share (EPS) 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 11.22%. On average, equities analysts forecast that Camden National will post 4.25 earnings per share for the current fiscal year.

About Camden National

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.