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

Camden National Corporation (NASDAQ:CAC) has been assigned an average recommendation of “Hold” from the six analysts that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $55.25.

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

Hedge Funds Weigh In On Camden National

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Camden National in the second quarter valued at approximately $96,659,000. California State Teachers Retirement System boosted its holdings in shares of Camden National by 5,287.8% in the 2nd quarter. California State Teachers Retirement System now owns 878,581 shares of the financial services provider’s stock valued at $47,637,000 after buying an additional 862,274 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Camden National by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 830,350 shares of the financial services provider’s stock worth $39,400,000 after acquiring an additional 8,205 shares in the last quarter. Basswood Capital Management L.L.C. acquired a new position in shares of Camden National during the 2nd quarter worth about $13,430,000. Finally, The Manufacturers Life Insurance Company bought a new position in Camden National during the second quarter worth about $12,693,000. Institutional investors own 77.41% of the company’s stock.

Camden National Stock Performance

NASDAQ CAC opened at $58.30 on Tuesday. The company’s fifty day moving average is $56.63 and its two-hundred day moving average is $51.91. Camden National has a 52-week low of $35.00 and a 52-week high of $60.59. 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 market capitalization of $985.27 million, a price-to-earnings ratio of 11.17 and a beta of 0.54.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, July 28th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.29 by $0.06. Camden National had a return on equity of 12.59% and a net margin of 23.64%.The firm had revenue of $67.41 million during the quarter, compared to analysts’ expectations of $66.41 million. Equities research analysts forecast that Camden National will post 5.43 EPS for the current year.

Camden National Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were given a dividend of $0.42 per share. 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 dividend payout ratio (DPR) is currently 32.18%.

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.