Brokerages Set Camden National Corporation (NASDAQ:CAC) Price Target at $49.00

Camden National Corporation (NASDAQ:CAC) has received an average recommendation of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $49.00.

Several equities research analysts have recently commented on CAC shares. Keefe, Bruyette & Woods increased their price objective on Camden National from $45.00 to $47.00 and gave the company a “market perform” rating in a report on Wednesday, January 28th. 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. Stephens reissued an “equal weight” rating and issued a $53.00 price objective on shares of Camden National in a research report on Thursday, February 5th. Finally, National Bank Financial set a $47.00 price objective on shares of Camden National in a research note on Wednesday, January 28th.

Camden National Trading Up 1.0%

Camden National stock opened at $47.25 on Monday. The company has a market cap of $799.47 million, a price-to-earnings ratio of 12.30 and a beta of 0.66. The firm has a 50-day moving average of $46.86 and a 200-day moving average of $42.44. 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 has a one year low of $34.53 and a one year high of $51.57.

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

Camden National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Thursday, January 15th were paid a $0.42 dividend. The ex-dividend date was Thursday, January 15th. This represents a $1.68 annualized dividend and a yield of 3.6%. Camden National’s dividend payout ratio is currently 43.75%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CAC. Franklin Resources Inc. lifted its holdings in Camden National by 10.3% during the 2nd quarter. Franklin Resources Inc. now owns 1,446,179 shares of the financial services provider’s stock valued at $58,686,000 after purchasing an additional 134,653 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Camden National by 70.4% in the fourth quarter. Wellington Management Group LLP now owns 220,382 shares of the financial services provider’s stock valued at $9,560,000 after purchasing an additional 91,018 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Camden National during the 3rd quarter worth about $2,897,000. TrueMark Investments LLC bought a new stake in shares of Camden National during the 3rd quarter worth about $2,634,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Camden National by 2,802.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 64,348 shares of the financial services provider’s stock worth $2,791,000 after buying an additional 62,131 shares during the period. 77.41% of the stock is owned by institutional investors and hedge funds.

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.