Camden National (NASDAQ:CAC) Receives Hold (C) Rating from Weiss Ratings

Weiss Ratings reissued their hold (c) rating on shares of Camden National (NASDAQ:CAC) in a report issued on Tuesday morning,Weiss Ratings reports.

Other equities research analysts also recently issued reports about the stock. Zacks Research upgraded shares of Camden National to a “hold” rating in a research report on Tuesday, August 12th. Stephens raised shares of Camden National from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $49.00 to $44.00 in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Camden National has a consensus rating of “Hold” and a consensus target price of $48.00.

Camden National Price Performance

Shares of NASDAQ CAC opened at $38.38 on Tuesday. The stock has a market capitalization of $649.39 million, a price-to-earnings ratio of 12.15 and a beta of 0.64. The business has a 50-day moving average of $39.34 and a 200-day moving average of $39.57. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.81 and a quick ratio of 0.81. Camden National has a fifty-two week low of $34.53 and a fifty-two week high of $50.07.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.23). Camden National had a return on equity of 10.19% and a net margin of 14.77%.The business had revenue of $69.82 million for the quarter, compared to the consensus estimate of $61.04 million. As a group, sell-side analysts predict that Camden National will post 4.25 earnings per share for the current fiscal year.

Camden National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 15th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Wednesday, October 15th. Camden National’s dividend payout ratio is currently 53.16%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC boosted its holdings in Camden National by 65.4% in the 1st quarter. CWM LLC now owns 837 shares of the financial services provider’s stock worth $34,000 after buying an additional 331 shares during the period. Eastern Bank bought a new position in Camden National in the 1st quarter worth approximately $50,000. Trust Co. of Vermont boosted its holdings in Camden National by 330.2% in the 2nd quarter. Trust Co. of Vermont now owns 2,151 shares of the financial services provider’s stock worth $87,000 after buying an additional 1,651 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Camden National by 15.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,567 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 350 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its holdings in Camden National by 29.2% in the 1st quarter. KLP Kapitalforvaltning AS now owns 3,100 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 700 shares during the period. 77.41% of the stock is owned by institutional investors.

About Camden National

Camden National Corporation operates as the bank holding company for Camden National Bank that provides various commercial and consumer banking products and services for consumer, institutional, municipal, non-profit, and commercial customers in Maine, New Hampshire, and Massachusetts. The company accepts checking, savings, time, and brokered deposits, as well as deposits with the certificate of deposit account registry system.