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

Camden National Corporation (NASDAQ:CAC) has been assigned a consensus recommendation of “Hold” from the six research firms that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $52.75.

A number of brokerages have recently commented on CAC. Keefe, Bruyette & Woods lifted their price objective on shares of Camden National from $47.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, April 29th. National Bank Financial set a $50.00 target price on shares of Camden National in a research note on Wednesday, April 29th. Raymond James Financial lifted their price target on Camden National from $56.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Camden National in a research report on Tuesday, June 9th.

Institutional Investors Weigh In On Camden National

Hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its holdings in shares of Camden National by 7.8% in the third 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 during the last quarter. Dimensional Fund Advisors LP grew its stake in Camden National by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 830,350 shares of the financial services provider’s stock valued at $39,400,000 after buying an additional 8,205 shares during the last quarter. State Street Corp grew its stake in Camden National by 0.4% in the 4th quarter. State Street Corp now owns 475,268 shares of the financial services provider’s stock valued at $20,617,000 after buying an additional 1,852 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Camden National by 4.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 311,170 shares of the financial services provider’s stock valued at $12,008,000 after acquiring an additional 13,849 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Camden National by 70.4% in the 4th quarter. Wellington Management Group LLP now owns 220,382 shares of the financial services provider’s stock valued at $9,560,000 after acquiring an additional 91,018 shares during the period. Institutional investors and hedge funds own 77.41% of the company’s stock.

Camden National Stock Performance

NASDAQ CAC opened at $54.58 on Friday. The company has a market cap of $923.22 million, a PE ratio of 11.61 and a beta of 0.55. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.09. Camden National has a 12 month low of $35.00 and a 12 month high of $56.23. The stock has a 50 day moving average of $50.57 and a 200-day moving average of $48.31.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. Camden National had a net margin of 21.32% and a return on equity of 11.78%. The business had revenue of $64.34 million for the quarter, compared to the consensus estimate of $65.57 million. On average, equities research analysts anticipate that Camden National will post 5.37 EPS for the current fiscal year.

Camden National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Wednesday, July 15th. Camden National’s payout ratio is currently 35.74%.

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.