Camden National Corporation (NASDAQ:CAC) Receives $52.75 Consensus Price Target from Brokerages

Camden National Corporation (NASDAQ:CAC) has been given an average recommendation of “Hold” by the six ratings firms that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $55.25.

Several brokerages recently commented on CAC. Weiss Ratings reissued a “buy (b)” rating on shares of Camden National in a research report on Tuesday, June 9th. National Bank Financial set a $55.00 target price on shares of Camden National in a research note on Thursday, July 30th. Keefe, Bruyette & Woods increased their price target on shares of Camden National from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Thursday, July 30th. Finally, Raymond James Financial raised their price target on shares of Camden National from $56.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st.

Camden National Stock Down 0.7%

Shares of NASDAQ:CAC opened at $59.37 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $53.58 and a two-hundred day simple moving average of $50.08. Camden National has a 12-month low of $35.00 and a 12-month high of $60.59. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 11.37 and a beta of 0.55.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.06. The firm had revenue of $67.41 million during the quarter, compared to the consensus estimate of $66.41 million. Camden National had a return on equity of 12.73% and a net margin of 23.64%. On average, research analysts anticipate that Camden National will post 5.43 earnings per share for the current fiscal year.

Camden National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were issued a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.8%. Camden National’s dividend payout ratio (DPR) is presently 32.18%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CAC. Los Angeles Capital Management LLC raised its holdings in shares of Camden National by 1.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 15,982 shares of the financial services provider’s stock worth $693,000 after acquiring an additional 284 shares in the last quarter. Quantbot Technologies LP lifted its position in Camden National by 11.9% during the third quarter. Quantbot Technologies LP now owns 3,545 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 378 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Camden National by 6.1% in the 3rd quarter. Intech Investment Management LLC now owns 7,282 shares of the financial services provider’s stock worth $281,000 after buying an additional 421 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Camden National by 2.2% in the 4th quarter. Signaturefd LLC now owns 20,592 shares of the financial services provider’s stock worth $893,000 after buying an additional 434 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Camden National by 106.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 878 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 452 shares during the last quarter. 77.41% of the stock is owned by hedge funds and other institutional investors.

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.