Camden National Corporation (NASDAQ:CAC) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Analysts give Camden National a consensus rating of "Hold" (four holds, one buy) with an average 1‑year price target of $49.00 and individual targets in the roughly $45–$53 range.
• The stock yields 3.3% (quarterly dividend $0.42, $1.68 annual), trades near $50.43, has a market cap of about $856M and a PE ratio of 13.1.
• Institutional investors own roughly 77.41% of the shares, with notable recent stake increases by Franklin Resources and Wellington Management.

Camden National Corporation (NASDAQ:CAC - Get Free Report) has been given a consensus rating of "Hold" by the five brokerages that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $49.00.

A number of equities analysts have recently commented on the company. National Bank Financial set a $47.00 price objective on Camden National in a research note on Wednesday, January 28th. Stephens reiterated an "equal weight" rating and issued a $53.00 price objective on shares of Camden National in a research note on Thursday, February 5th. Keefe, Bruyette & Woods lifted their price objective on Camden National from $45.00 to $47.00 and gave the stock a "market perform" rating in a research note on Wednesday, January 28th. Finally, Weiss Ratings upgraded Camden National from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, February 19th.

Institutional Investors Weigh In On Camden National

A number of institutional investors have recently added to or reduced their stakes in CAC. Franklin Resources Inc. grew its position in Camden National by 7.8% during the third quarter. Franklin Resources Inc. now owns 1,559,400 shares of the financial services provider's stock worth $60,177,000 after buying an additional 113,221 shares in the last quarter. Wellington Management Group LLP grew its position in Camden National by 70.4% during the fourth quarter. Wellington Management Group LLP now owns 220,382 shares of the financial services provider's stock worth $9,560,000 after buying an additional 91,018 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Camden National during the third quarter worth about $2,897,000. TrueMark Investments LLC acquired a new stake in Camden National during the third quarter worth about $2,634,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Camden National by 2,802.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 64,348 shares of the financial services provider's stock worth $2,791,000 after buying an additional 62,131 shares in the last quarter. 77.41% of the stock is owned by institutional investors and hedge funds.

Camden National Trading Down 1.5%

Camden National stock opened at $50.43 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.81. The business's 50-day simple moving average is $47.96 and its 200-day simple moving average is $44.27. The firm has a market capitalization of $856.30 million, a PE ratio of 13.13 and a beta of 0.58. Camden National has a 52 week low of $35.00 and a 52 week high of $52.17.

Camden National (NASDAQ:CAC - Get Free Report) last posted its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.01. Camden National had a return on equity of 11.22% and a net margin of 17.46%. Equities research analysts forecast that Camden National will post 5.43 earnings per share for the current year.

Camden National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, April 15th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $1.68 dividend on an annualized basis and a yield of 3.3%. Camden National's dividend payout ratio (DPR) is 43.75%.

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.

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