Brokerages Set Camden National Corporation (NASDAQ:CAC) PT at $46.00

Shares of Camden National Corporation (NASDAQ:CAC) have been assigned a consensus recommendation of “Hold” from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $49.00.

CAC has been the topic of several research reports. Janney Montgomery Scott upgraded shares of Camden National to a “hold” rating in a research report on Wednesday, October 22nd. Stephens restated an “equal weight” rating and set a $53.00 target price on shares of Camden National in a research report on Thursday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Camden National in a research note on Monday, December 29th. National Bankshares set a $47.00 price target on Camden National in a report on Wednesday, January 28th. Finally, Keefe, Bruyette & Woods increased their price target on Camden National from $45.00 to $47.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 28th.

Camden National Price Performance

CAC stock opened at $50.13 on Thursday. The firm has a 50 day moving average of $45.28 and a 200-day moving average of $41.18. The company has a market cap of $848.20 million, a price-to-earnings ratio of 13.05 and a beta of 0.66. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. Camden National has a 12-month low of $34.53 and a 12-month high of $51.57.

Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.01. The firm had revenue of $68.05 million during the quarter, compared to the consensus estimate of $66.40 million. Camden National had a return on equity of 11.39% and a net margin of 17.46%. As a group, equities analysts expect that Camden National will post 4.25 EPS for the current fiscal year.

Camden National Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Thursday, January 15th were given a $0.42 dividend. The ex-dividend date of this dividend was Thursday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.4%. Camden National’s dividend payout ratio (DPR) is currently 43.75%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CAC. AQR Capital Management LLC lifted its holdings in shares of Camden National by 151.1% during the 1st quarter. AQR Capital Management LLC now owns 24,455 shares of the financial services provider’s stock valued at $990,000 after acquiring an additional 14,715 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Camden National by 20.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,925 shares of the financial services provider’s stock valued at $402,000 after purchasing an additional 1,661 shares during the period. Empowered Funds LLC grew its holdings in Camden National by 8.4% during the 1st quarter. Empowered Funds LLC now owns 43,043 shares of the financial services provider’s stock valued at $1,742,000 after purchasing an additional 3,318 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Camden National in the first quarter worth about $1,019,000. Finally, KLP Kapitalforvaltning AS boosted its stake in shares of Camden National by 77.4% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 5,500 shares of the financial services provider’s stock valued at $223,000 after buying an additional 2,400 shares during the last quarter. 77.41% of the stock is owned by hedge funds and other institutional investors.

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.