Camden National Corporation (NASDAQ:CAC) Receives $46.75 Consensus Price Target from Brokerages

Shares of Camden National Corporation (NASDAQ:CAC) have received an average recommendation of “Hold” from the six brokerages that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $46.75.

Several brokerages recently commented on CAC. Janney Montgomery Scott raised Camden National to a “hold” rating in a research report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Camden National in a report on Monday. National Bankshares set a $45.00 target price on shares of Camden National in a research note on Wednesday, October 29th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Camden National from $44.00 to $45.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 29th.

Camden National Stock Down 1.5%

CAC stock opened at $44.69 on Wednesday. Camden National has a twelve month low of $34.53 and a twelve month high of $46.80. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.09. The company has a market cap of $756.15 million, a PE ratio of 12.73 and a beta of 0.66. The business’s 50-day simple moving average is $40.40 and its 200 day simple moving average is $40.07.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.01. The company had revenue of $116.67 million during the quarter, compared to the consensus estimate of $63.20 million. Camden National had a return on equity of 10.76% and a net margin of 16.24%. On average, research analysts anticipate that Camden National will post 4.25 earnings per share for the current year.

Camden National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 15th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Thursday, January 15th. Camden National’s dividend payout ratio is 47.86%.

Institutional Investors Weigh In On Camden National

Large investors have recently made changes to their positions in the company. State of Alaska Department of Revenue acquired a new position in Camden National in the third quarter valued at about $26,000. Russell Investments Group Ltd. grew its position in Camden National by 13,790.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,389 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 1,379 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Camden National during the 3rd quarter valued at $58,000. Trust Co. of Vermont grew its holdings in shares of Camden National by 330.2% during the second quarter. Trust Co. of Vermont now owns 2,151 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 1,651 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Camden National by 15.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,567 shares of the financial services provider’s stock valued at $104,000 after buying an additional 350 shares in the last quarter. Institutional investors own 77.41% of the company’s stock.

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.