Camden National Corporation (NASDAQ:CAC) Given Consensus Rating of “Hold” by Brokerages

Shares of Camden National Corporation (NASDAQ:CAC) have been assigned a consensus rating of “Hold” from the five brokerages that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $49.00.

Several brokerages recently issued reports on CAC. Stephens reissued an “equal weight” rating and issued a $53.00 price target on shares of Camden National in a report on Thursday, February 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Camden National in a report on Monday, December 29th. National Bank Financial set a $47.00 price objective on shares of Camden National in a report on Wednesday, January 28th. Janney Montgomery Scott raised shares of Camden National to a “hold” rating in a research note on Wednesday, October 22nd. Finally, Keefe, Bruyette & Woods upped their target price on shares of Camden National from $45.00 to $47.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 28th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue acquired a new position in shares of Camden National during the third quarter valued at $26,000. Russell Investments Group Ltd. grew its position in Camden National by 13,790.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,389 shares of the financial services provider’s stock valued at $54,000 after buying an additional 1,379 shares in the last quarter. Advisory Services Network LLC acquired a new position in Camden National during the 3rd quarter valued at about $58,000. Nisa Investment Advisors LLC raised its position in shares of Camden National by 15,220.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,532 shares of the financial services provider’s stock worth $66,000 after buying an additional 1,522 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of Camden National in the 4th quarter worth approximately $126,000. Institutional investors own 77.41% of the company’s stock.

Camden National Trading Down 0.1%

NASDAQ CAC opened at $49.66 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.81. Camden National has a one year low of $34.53 and a one year high of $51.57. The company has a 50-day simple moving average of $45.77 and a 200-day simple moving average of $41.36. The firm has a market capitalization of $840.25 million, a PE ratio of 12.93 and a beta of 0.66.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, January 27th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $68.05 million for the quarter, compared to analysts’ expectations of $66.40 million. On average, equities analysts forecast that Camden National will post 4.25 earnings per share for the current year.

Camden National Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Thursday, January 15th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.4%. The ex-dividend date was Thursday, January 15th. Camden National’s dividend payout ratio (DPR) is currently 43.75%.

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.