Brokerages Set Camden National Corporation (NASDAQ:CAC) Target Price at $46.75

Camden National Corporation (NASDAQ:CAC) has earned an average recommendation of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat reports. Four 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 target among brokerages that have issued a report on the stock in the last year is $46.75.

A number of equities analysts recently commented on CAC shares. National Bankshares set a $45.00 target price on shares of Camden National in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Camden National in a research note on Monday. Janney Montgomery Scott raised Camden National to a “hold” rating in a research note on Wednesday, October 22nd. Finally, Keefe, Bruyette & Woods increased their target price on Camden National from $44.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday, October 29th.

Institutional Investors Weigh In On Camden National

Several institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new stake in Camden National in the first quarter worth $458,000. HighTower Advisors LLC raised its holdings in Camden National by 4.1% in the 1st quarter. HighTower Advisors LLC now owns 7,811 shares of the financial services provider’s stock worth $316,000 after purchasing an additional 311 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of 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 worth $104,000 after purchasing an additional 350 shares during the period. Delphi Management Inc. MA lifted its position in shares of Camden National by 158.5% in the 2nd quarter. Delphi Management Inc. MA now owns 31,788 shares of the financial services provider’s stock worth $1,290,000 after purchasing an additional 19,493 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Camden National during the 2nd quarter valued at about $278,000. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Camden National Stock Down 1.1%

Shares of CAC opened at $45.95 on Wednesday. Camden National has a 1 year low of $34.53 and a 1 year high of $46.80. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a 50 day simple moving average of $40.10 and a two-hundred day simple moving average of $39.97. The firm has a market cap of $777.47 million, a P/E ratio of 13.09 and a beta of 0.66.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $1.24 EPS for the quarter, topping the consensus estimate of $1.23 by $0.01. Camden National had a net margin of 16.24% and a return on equity of 10.76%. The firm had revenue of $116.67 million for the quarter, compared to the consensus estimate of $63.20 million. On average, analysts forecast that Camden National will post 4.25 earnings per share for the current fiscal year.

Camden National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Thursday, January 15th will be issued a $0.42 dividend. The ex-dividend date is Thursday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.7%. Camden National’s dividend payout ratio (DPR) is currently 47.86%.

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.