Camden National Corporation (CAC) Given $46.00 Consensus Target Price by Analysts
Camden National Corporation (NASDAQ:CAC) has earned a consensus broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has given a strong buy rating to the company. Camden National Corporation’s rating score has declined by 33.3% from 90 days ago as a result of various analysts’ ratings changes.
Brokers have set a one year consensus price target of $46.00 for the company and are predicting that the company will post $0.68 earnings per share for the current quarter, according to Zacks. Zacks has also given Camden National Corporation an industry rank of 162 out of 265 based on the ratings given to its competitors.
CAC has been the subject of a number of research reports. BidaskClub raised shares of Camden National Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. Keefe, Bruyette & Woods cut shares of Camden National Corporation from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 1st.
Camden National Corporation (NASDAQ:CAC) opened at $42.81 on Friday. Camden National Corporation has a 52-week low of $32.68 and a 52-week high of $45.43. The firm has a market cap of $664.11, a price-to-earnings ratio of 15.86 and a beta of 0.79. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.17.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 13th were given a dividend of $0.23 per share. The ex-dividend date was Thursday, October 12th. This represents a $0.92 annualized dividend and a yield of 2.15%. Camden National Corporation’s payout ratio is currently 33.95%.
In other news, Director Carl John Soderberg purchased 3,000 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was acquired at an average price of $38.46 per share, with a total value of $115,380.00. Following the transaction, the director now directly owns 59,323 shares of the company’s stock, valued at approximately $2,281,562.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Holmes purchased 1,000 shares of the company’s stock in a transaction on Monday, September 11th. The shares were purchased at an average cost of $38.95 per share, with a total value of $38,950.00. Following the transaction, the director now directly owns 19,756 shares in the company, valued at $769,496.20. The disclosure for this purchase can be found here. Insiders have acquired a total of 5,000 shares of company stock valued at $192,900 in the last three months. 2.34% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA boosted its position in Camden National Corporation by 479.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,340 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,936 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Camden National Corporation in the 1st quarter worth about $124,000. Atlantic Trust LLC purchased a new stake in shares of Camden National Corporation in the 2nd quarter worth about $136,000. Legal & General Group Plc lifted its position in shares of Camden National Corporation by 4.2% in the 2nd quarter. Legal & General Group Plc now owns 3,817 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 153 shares during the period. Finally, Citigroup Inc. lifted its position in shares of Camden National Corporation by 696.7% in the 2nd quarter. Citigroup Inc. now owns 4,772 shares of the financial services provider’s stock worth $205,000 after purchasing an additional 4,173 shares during the period. 64.83% of the stock is owned by institutional investors and hedge funds.
Camden National Corporation Company Profile
Camden National Corporation is a bank holding company. The Company is a diversified financial services provider. The primary business of the Company and its subsidiary, Camden National Bank (the Bank), is to attract deposits from, and to extend loans to, consumer, institutional, municipal, non-profit and commercial customers.
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