Stephens Issues Positive Forecast for Camden National (NASDAQ:CAC) Stock Price

Camden National (NASDAQ:CAC) had its price objective lifted by Stephens from $58.00 to $59.00 in a report published on Wednesday morning,Benzinga reports. Stephens currently has an equal weight rating on the financial services provider’s stock.

CAC has been the subject of a number of other reports. Zacks Research downgraded Camden National from a “hold” rating to a “strong sell” rating in a report on Friday, October 30th. Weiss Ratings cut Camden National from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday. Keefe, Bruyette & Woods lifted their price objective on shares of Camden National from $50.00 to $55.00 and gave the stock a “market perform” rating in a report 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 for the company. Finally, National Bank Financial set a $58.00 target price on shares of Camden National in a research note on Wednesday, October 28th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $57.50.

Camden National Stock Up 0.7%

NASDAQ:CAC opened at $59.21 on Wednesday. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 11.07 and a beta of 0.58. Camden National has a one year low of $37.87 and a one year high of $60.99. The stock has a 50-day simple moving average of $57.29 and a 200 day simple moving average of $52.69. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.82 and a current ratio of 0.83.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, October 27th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.34. Camden National had a return on equity of 12.66% and a net margin of 24.16%. The firm had revenue of $68.67 million for the quarter, compared to analysts’ expectations of $67.91 million. Sell-side analysts predict that Camden National will post 5.33 EPS for the current fiscal year.

Camden National Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Thursday, October 15th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Thursday, October 15th. Camden National’s dividend payout ratio is 31.64%.

Institutional Trading of Camden National

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Camden National in the second quarter worth about $96,659,000. Basswood Capital Management L.L.C. purchased a new stake in shares of Camden National during the second quarter worth $13,430,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Camden National during the second quarter worth $12,693,000. Kimelman & Baird LLC acquired a new stake in Camden National during the second quarter valued at $7,444,000. Finally, Bank of New York Mellon Corp acquired a new stake in Camden National during the second quarter valued at $6,545,000. 77.41% of the stock is owned by institutional investors and hedge funds.

Camden National Company Profile

Camden National Bancorp, Inc. is a bank holding company headquartered in Camden, Maine. Its principal subsidiary, Camden National Bank, traces its roots to 1875 and provides banking and financial services to individuals, businesses and institutions. The bank offers personal and business deposit accounts, lending, mortgage and cash-management services, as well as wealth management, trust and investment services. Its service area is centered in Maine, where it operates branches and serves customers across the state.