Camden National Corporation (NASDAQ:CAC) Receives $49.00 Consensus PT from Analysts

Shares of Camden National Corporation (NASDAQ:CAC) have earned an average rating of “Hold” from the five brokerages that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $49.00.

CAC has been the topic of several research reports. Weiss Ratings raised Camden National from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 19th. National Bank Financial set a $47.00 target price on Camden National in a research note on Wednesday, January 28th. Keefe, Bruyette & Woods increased their price target on Camden National from $45.00 to $47.00 and gave the company a “market perform” rating in a research report on Wednesday, January 28th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $53.00 price target on shares of Camden National in a research report on Thursday, February 5th.

Camden National Price Performance

CAC opened at $49.88 on Tuesday. The stock’s 50-day moving average price is $47.95 and its 200 day moving average price is $44.42. Camden National has a 12-month low of $35.00 and a 12-month high of $52.17. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The firm has a market cap of $846.96 million, a price-to-earnings ratio of 12.99 and a beta of 0.58.

Camden National (NASDAQ:CAC) last posted 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. Camden National had a return on equity of 11.22% and a net margin of 17.46%. As a group, sell-side analysts expect that Camden National will post 5.43 earnings per share for the current year.

Camden National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th will be given a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $1.68 dividend on an annualized basis and a yield of 3.4%. Camden National’s dividend payout ratio (DPR) is currently 43.75%.

Institutional Investors Weigh In On Camden National

Hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. acquired a new stake in Camden National in the 3rd quarter valued at about $2,897,000. Y Intercept Hong Kong Ltd raised its position in Camden National by 434.2% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 36,627 shares of the financial services provider’s stock valued at $1,413,000 after purchasing an additional 29,771 shares in the last quarter. TrueMark Investments LLC acquired a new stake in Camden National in the 3rd quarter valued at about $2,634,000. JPMorgan Chase & Co. raised its position in Camden National by 4.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 311,170 shares of the financial services provider’s stock valued at $12,008,000 after purchasing an additional 13,849 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Camden National in the 3rd quarter valued at about $132,000. Institutional investors and hedge funds own 77.41% of the company’s stock.

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.