Camden National’s (CAC) Equal Weight Rating Reiterated at Stephens

Stephens reiterated their equal weight rating on shares of Camden National (NASDAQ:CAC) in a research note issued to investors on Thursday morning, Marketbeat.com reports. They currently have a $53.00 target price on the financial services provider’s stock.

Several other equities analysts have also issued reports on CAC. National Bankshares set a $47.00 price target on shares of Camden National in a report on Wednesday, January 28th. Janney Montgomery Scott upgraded Camden National to a “hold” rating in a report on Wednesday, October 22nd. Keefe, Bruyette & Woods raised their price target on Camden National from $45.00 to $47.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 28th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Camden National in a research report on Monday, December 29th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $49.00.

Camden National Stock Up 0.3%

Camden National stock opened at $50.13 on Thursday. 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 company has a market capitalization of $848.20 million, a P/E ratio of 13.05 and a beta of 0.66. The firm’s fifty day simple moving average is $45.28 and its 200-day simple moving average is $41.18. Camden National has a 1-year low of $34.53 and a 1-year high of $51.57.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.01. Camden National had a net margin of 17.46% and a return on equity of 11.39%. The business had revenue of $68.05 million for the quarter, compared to the consensus estimate of $66.40 million. Sell-side 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 disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Thursday, January 15th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Thursday, January 15th. Camden National’s payout ratio is currently 43.75%.

Hedge Funds Weigh In On Camden National

Large investors have recently made changes to their positions in the company. Franklin Resources Inc. grew its holdings in Camden National by 7.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,559,400 shares of the financial services provider’s stock valued at $60,177,000 after buying an additional 113,221 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Camden National by 0.5% in the second quarter. Geode Capital Management LLC now owns 408,288 shares of the financial services provider’s stock valued at $16,571,000 after acquiring an additional 2,187 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Camden National by 4.7% in the third quarter. JPMorgan Chase & Co. now owns 311,170 shares of the financial services provider’s stock valued at $12,008,000 after acquiring an additional 13,849 shares in the last quarter. Clean Yield Group increased its position in Camden National by 1.2% during the third quarter. Clean Yield Group now owns 102,607 shares of the financial services provider’s stock worth $3,960,000 after acquiring an additional 1,198 shares during the period. Finally, Bridgeway Capital Management LLC raised its stake in Camden National by 5.0% in the 2nd quarter. Bridgeway Capital Management LLC now owns 86,290 shares of the financial services provider’s stock worth $3,502,000 after purchasing an additional 4,147 shares in the last quarter. 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.