Camden National (NASDAQ:CAC) Reaches New 12-Month High - Here's Why

Key Points

• 52-week high: Camden National shares reached a new 52-week high, trading as high as $51.93 and last at $52.0830 on the session with about 45,101 shares changing hands.
• Analyst stance: The consensus rating is "Hold" with a $49.00 consensus price target (one Buy and four Hold ratings), though Weiss Ratings recently upgraded the stock to a Buy.
• Dividends and fundamentals: The company announced a $0.42 quarterly dividend (annualized $1.68, ~3.3% yield, ex-dividend April 15), and recently reported a slight EPS beat ($1.33 vs. $1.32) with a P/E of 13.33 and market cap around $869 million.

Camden National Corporation (NASDAQ:CAC - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $51.93 and last traded at $52.0830, with a volume of 45101 shares. The stock had previously closed at $49.66.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Weiss Ratings raised Camden National from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, February 19th. Stephens reaffirmed an "equal weight" rating and issued a $53.00 target price on shares of Camden National in a report on Thursday, February 5th. National Bank Financial set a $47.00 target price on Camden National in a report on Wednesday, January 28th. Finally, Keefe, Bruyette & Woods raised their target price on Camden National from $45.00 to $47.00 and gave the company a "market perform" rating in a report on Wednesday, January 28th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $49.00.

Camden National Stock Performance

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 company has a market cap of $869.17 million, a price-to-earnings ratio of 13.33 and a beta of 0.58. The company has a fifty day moving average of $47.94 and a two-hundred day moving average of $44.01.

Camden National (NASDAQ:CAC - Get Free Report) last released its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate 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 anticipate that Camden National Corporation will post 4.25 EPS for the current year.

Camden National Dividend Announcement

The business 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. This represents a $1.68 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, April 15th. Camden National's dividend payout ratio (DPR) is currently 43.75%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue bought a new position in shares of Camden National in the 3rd quarter worth about $26,000. Russell Investments Group Ltd. raised its position in shares of 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 worth $54,000 after acquiring an additional 1,379 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Camden National in the 3rd quarter worth about $58,000. Nisa Investment Advisors LLC raised its position 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 worth $66,000 after acquiring an additional 1,522 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new position in shares of Camden National in the 4th quarter worth about $92,000. 77.41% of the stock is owned by institutional investors.

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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