Brokerages Set Camden National Corporation (NASDAQ:CAC) Target Price at $52.75

Camden National Corporation (NASDAQ:CAC) has earned a consensus rating of “Hold” from the six brokerages that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $55.25.

A number of equities research analysts recently commented on CAC shares. National Bank Financial set a $55.00 price objective on shares of Camden National in a research note on Thursday. Keefe, Bruyette & Woods increased their price target on shares of Camden National from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Camden National in a research note on Tuesday, June 9th. Finally, Raymond James Financial lifted their price objective on Camden National from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st.

Camden National Trading Up 2.4%

NASDAQ CAC opened at $59.28 on Thursday. Camden National has a 52-week low of $35.00 and a 52-week high of $59.82. The firm has a 50-day moving average price of $53.21 and a 200 day moving average price of $49.88. The stock has a market capitalization of $1.00 billion, a P/E ratio of 11.36 and a beta of 0.55. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.09.

Camden National (NASDAQ:CAC) last released its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.06. The business had revenue of $67.41 million for the quarter, compared to analysts’ expectations of $66.41 million. Camden National had a return on equity of 12.73% and a net margin of 23.64%. Equities research analysts expect that Camden National will post 5.43 EPS for the current year.

Camden National Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Wednesday, July 15th. Camden National’s payout ratio is 32.18%.

Institutional Trading of Camden National

A number of large investors have recently made changes to their positions in the stock. Northside Capital Management LLC purchased a new stake in Camden National during the 2nd quarter worth about $203,000. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Camden National by 24.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 8,068 shares of the financial services provider’s stock worth $437,000 after buying an additional 1,572 shares in the last quarter. Amundi purchased a new stake in shares of Camden National during the first quarter worth about $216,000. Empowered Funds LLC boosted its position in Camden National by 322.3% during the first quarter. Empowered Funds LLC now owns 69,644 shares of the financial services provider’s stock worth $3,305,000 after acquiring an additional 53,154 shares during the last quarter. Finally, Quantinno Capital Management LP grew its stake in Camden National by 57.7% in the 1st quarter. Quantinno Capital Management LP now owns 12,443 shares of the financial services provider’s stock worth $590,000 after acquiring an additional 4,554 shares during the period. 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.