Camden National Corporation (NASDAQ:CAC) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Camden National Corporation has a consensus rating of "Hold" from five brokerages, with three firms rating it as a hold and two as a buy.
• The company's stock has experienced a 12-month price range between $34.53 and $50.07, currently trading at $38.36.
• Camden National announced a quarterly dividend of $0.42 per share, representing an annual yield of 4.4%, with the payment date set for October 31st.

Camden National Corporation (NASDAQ:CAC - Get Free Report) has been assigned a consensus recommendation of "Hold" from the five ratings firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $48.00.

A number of research analysts recently issued reports on CAC shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Camden National in a report on Saturday, September 27th. Zacks Research raised Camden National to a "hold" rating in a report on Tuesday, August 12th. Finally, Stephens raised Camden National from an "equal weight" rating to an "overweight" rating and lowered their target price for the stock from $49.00 to $44.00 in a report on Wednesday, August 6th.

Camden National Stock Performance

Shares of CAC traded up $0.46 during trading hours on Friday, reaching $38.36. 117,421 shares of the company's stock traded hands, compared to its average volume of 75,332. The firm has a market capitalization of $649.05 million, a price-to-earnings ratio of 12.14 and a beta of 0.64. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.81 and a quick ratio of 0.81. Camden National has a twelve month low of $34.53 and a twelve month high of $50.07. The business's fifty day simple moving average is $39.36 and its two-hundred day simple moving average is $39.78.

Camden National (NASDAQ:CAC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $1.12 by ($0.23). The business had revenue of $69.82 million for the quarter, compared to analyst estimates of $61.04 million. Camden National had a net margin of 14.77% and a return on equity of 10.19%. Analysts predict that Camden National will post 4.25 earnings per share for the current year.

Camden National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 15th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, October 15th. Camden National's payout ratio is presently 53.16%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its stake in Camden National by 27.1% in the 4th quarter. Bank of America Corp DE now owns 26,923 shares of the financial services provider's stock worth $1,151,000 after purchasing an additional 5,738 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Camden National by 23.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,322 shares of the financial services provider's stock worth $1,467,000 after purchasing an additional 6,544 shares in the last quarter. GAMMA Investing LLC increased its stake in Camden National by 12,735.9% in the 1st quarter. GAMMA Investing LLC now owns 8,215 shares of the financial services provider's stock worth $332,000 after purchasing an additional 8,151 shares in the last quarter. SG Americas Securities LLC increased its stake in Camden National by 22.5% in the 1st quarter. SG Americas Securities LLC now owns 10,965 shares of the financial services provider's stock worth $444,000 after purchasing an additional 2,013 shares in the last quarter. Finally, Bar Harbor Wealth Management purchased a new position in Camden National in the 1st quarter worth about $588,000. 77.41% of the stock is owned by institutional investors and hedge funds.

Camden National Company Profile

Camden National Corporation operates as the bank holding company for Camden National Bank that provides various commercial and consumer banking products and services for consumer, institutional, municipal, non-profit, and commercial customers in Maine, New Hampshire, and Massachusetts. The company accepts checking, savings, time, and brokered deposits, as well as deposits with the certificate of deposit account registry system.

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