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

Camden National Corporation (NASDAQ:CAC) has earned an average rating of “Hold” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $46.75.

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

Camden National Stock Down 0.1%

Shares of NASDAQ CAC opened at $44.12 on Friday. Camden National has a 1 year low of $34.53 and a 1 year high of $46.80. The firm has a 50-day simple moving average of $42.45 and a two-hundred day simple moving average of $40.57. The company has a market cap of $746.51 million, a P/E ratio of 12.57 and a beta of 0.65. 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 (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.01. Camden National had a return on equity of 10.76% and a net margin of 16.24%.The firm had revenue of $116.67 million for the quarter, compared to the consensus estimate of $63.20 million. Research analysts anticipate that Camden National will post 4.25 earnings per share for the current year.

Camden National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 15th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $1.68 dividend on an annualized basis and a yield of 3.8%. Camden National’s payout ratio is 47.86%.

Hedge Funds Weigh In On Camden National

Several institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new stake in shares of Camden National in the third quarter valued at about $26,000. Russell Investments Group Ltd. boosted its stake in shares of Camden National by 13,790.0% during the third quarter. Russell Investments Group Ltd. now owns 1,389 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 1,379 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Camden National during the third quarter worth $58,000. Trust Co. of Vermont boosted its position in Camden National by 330.2% during the 2nd quarter. Trust Co. of Vermont now owns 2,151 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 1,651 shares in the last quarter. Finally, CWM LLC raised its position in shares of Camden National by 287.8% in the 3rd quarter. CWM LLC now owns 3,141 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 2,331 shares in the last quarter. Hedge funds and other institutional investors own 77.41% of the company’s stock.

Camden National Company Profile

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.