Camden National Corporation (NASDAQ:CAC) Receives $52.25 Consensus PT from Brokerages

Camden National Corporation (NASDAQ:CAC) has received an average recommendation of “Hold” from the six brokerages that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $52.25.

CAC has been the topic of several recent analyst reports. National Bank Financial set a $50.00 price objective on shares of Camden National in a research report on Wednesday, April 29th. Stephens reissued an “equal weight” rating and set a $53.00 price objective on shares of Camden National in a research report on Thursday, February 5th. Keefe, Bruyette & Woods increased 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. Weiss Ratings raised shares of Camden National from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 19th. Finally, Raymond James Financial reissued an “outperform” rating and set a $56.00 price objective on shares of Camden National in a research report on Wednesday, April 29th.

Camden National Stock Up 2.0%

Shares of Camden National stock opened at $48.31 on Friday. 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 company has a 50-day moving average of $48.13 and a 200 day moving average of $45.72. The firm has a market cap of $817.41 million, a price-to-earnings ratio of 10.28 and a beta of 0.56. Camden National has a 1 year low of $35.00 and a 1 year high of $53.71.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. The company had revenue of $64.34 million during the quarter, compared to analyst estimates of $65.57 million. Camden National had a net margin of 21.32% and a return on equity of 11.78%. As a group, sell-side analysts anticipate that Camden National will post 5.39 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 15th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Wednesday, April 15th. Camden National’s dividend payout ratio is 35.74%.

Institutional Trading of Camden National

Institutional investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd boosted its holdings in shares of Camden National by 434.2% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 36,627 shares of the financial services provider’s stock valued at $1,413,000 after acquiring an additional 29,771 shares during the last quarter. TrueMark Investments LLC purchased a new stake in shares of Camden National during the 3rd quarter valued at about $2,634,000. JPMorgan Chase & Co. boosted its holdings in shares of Camden National by 4.7% during 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 last quarter. Abacus Wealth Partners LLC purchased a new stake in shares of Camden National during the 4th quarter valued at about $811,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Camden National during the 3rd quarter valued at about $132,000. 77.41% of the stock is owned by hedge funds and other institutional investors.

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.