Camden National Corporation (NASDAQ:CAC) Receives $46.75 Average Target Price from Analysts

Shares of Camden National Corporation (NASDAQ:CAC) have earned an average rating of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $46.75.

A number of analysts have recently issued reports on CAC shares. Janney Montgomery Scott upgraded shares of Camden National to a “hold” rating in a report on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Camden National in a research note on Monday, December 29th. National Bankshares set a $45.00 price target on Camden National in a research note on Wednesday, October 29th. Finally, Keefe, Bruyette & Woods increased their price target on Camden National from $44.00 to $45.00 and gave the stock a “market perform” rating in a report on Wednesday, October 29th.

Camden National Trading Down 0.8%

Shares of CAC stock opened at $45.31 on Friday. 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 twelve month low of $34.53 and a twelve month high of $46.80. The company’s 50-day moving average price is $42.83 and its 200-day moving average price is $40.67. The stock has a market cap of $766.74 million, a price-to-earnings ratio of 12.91 and a beta of 0.65.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, October 28th. The financial services provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.01. The company had revenue of $116.67 million for the quarter, compared to the consensus estimate of $63.20 million. Camden National had a net margin of 16.24% and a return on equity of 10.76%. As a group, equities analysts predict that Camden National will post 4.25 earnings per share for the current year.

Camden National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 15th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Thursday, January 15th. Camden National’s dividend payout ratio (DPR) is 47.86%.

Hedge Funds Weigh In On Camden National

Large investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue acquired a new stake in Camden National in the 3rd quarter valued at approximately $26,000. Russell Investments Group Ltd. boosted its position in shares of Camden National by 13,790.0% during the third quarter. Russell Investments Group Ltd. now owns 1,389 shares of the financial services provider’s stock worth $54,000 after buying an additional 1,379 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Camden National in the third quarter valued at $58,000. Nisa Investment Advisors LLC raised its holdings in shares of Camden National by 15,220.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,532 shares of the financial services provider’s stock valued at $66,000 after buying an additional 1,522 shares during the period. Finally, Trust Co. of Vermont lifted its stake in Camden National by 330.2% during the 2nd quarter. Trust Co. of Vermont now owns 2,151 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 1,651 shares in the last quarter. 77.41% of the stock is currently 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.