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

Shares of Camden National Corporation (NASDAQ:CAC) have been given a consensus rating of “Hold” by the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $56.50.

A number of research analysts have commented on the stock. National Bank Financial set a $60.00 target price on shares of Camden National in a research report on Tuesday, September 15th. Keefe, Bruyette & Woods boosted their price target on shares of Camden National from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Thursday, July 30th. Hovde Group began coverage on shares of Camden National in a report on Tuesday, September 15th. They issued a “hold” rating on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Camden National in a research report on Friday, September 4th. Finally, Raymond James Financial lifted their target price on shares of Camden National from $56.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st.

Camden National Stock Performance

Camden National stock opened at $57.19 on Tuesday. The stock has a market cap of $966.51 million, a price-to-earnings ratio of 10.96 and a beta of 0.54. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a 50 day simple moving average of $57.02 and a 200-day simple moving average of $52.27. Camden National has a 1-year low of $35.00 and a 1-year high of $60.59.

Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, July 28th. The financial services provider reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.06. The company had revenue of $67.41 million for the quarter, compared to the consensus estimate of $66.41 million. Camden National had a return on equity of 12.59% and a net margin of 23.64%. On average, analysts expect that Camden National will post 5.43 EPS for the current year.

Camden National Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were paid 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 2.9%. Camden National’s payout ratio is presently 32.18%.

Hedge Funds Weigh In On Camden National

Hedge funds have recently bought and sold shares of the company. Sheets Smith Wealth Management lifted its position in shares of Camden National by 2.5% during the second quarter. Sheets Smith Wealth Management now owns 14,683 shares of the financial services provider’s stock worth $796,000 after purchasing an additional 363 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Camden National by 106.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 878 shares of the financial services provider’s stock worth $42,000 after buying an additional 452 shares during the period. Clearstead Trust LLC purchased a new stake in Camden National during the 2nd quarter worth approximately $29,000. Susquehanna Fundamental Investments LLC lifted its holdings in Camden National by 7.8% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 12,430 shares of the financial services provider’s stock worth $674,000 after buying an additional 895 shares in the last quarter. Finally, Camden National Bank lifted its holdings in Camden National by 1.1% during the 4th quarter. Camden National Bank now owns 96,642 shares of the financial services provider’s stock worth $4,192,000 after buying an additional 1,016 shares in the last quarter. 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. Its principal subsidiary, Camden National Bank, provides banking and financial services to individuals, families, businesses, nonprofit organizations and municipalities across Maine.

The bank offers deposit accounts, residential and commercial lending, home equity loans, consumer loans, cash-management services, online and mobile banking, and other financial products. Through its wealth-management operations, Camden National also provides investment management, trust, retirement planning and related advisory services.

Camden National traces its history to 1875 and has grown into a community-focused banking organization serving customers through a network of locations throughout Maine.