Camden National Corporation (NASDAQ:CAC) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts rate Camden National “Hold” on average: Four of six analysts recommend holding the stock, while two recommend buying it. The average 1-year price target is $55.25.
• Camden National reported better-than-expected quarterly results, with EPS of $1.35 versus the $1.29 consensus estimate and revenue of $67.41 million. The company also pays a quarterly dividend of $0.42 per share, yielding approximately 2.9% annually.
• Institutional investors own 77.41% of the stock, while shares recently traded at $58.30, near the company’s 52-week high of $60.59.

Shares of Camden National Corporation (NASDAQ:CAC - Get Free Report) have received an average rating of "Hold" from the six research firms that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $55.25.

CAC has been the topic of several research reports. Hovde Group assumed coverage on shares of Camden National in a research report on Tuesday. They issued a "market perform" rating on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Camden National in a report on Friday, September 4th. Keefe, Bruyette & Woods boosted their price target on Camden National from $50.00 to $55.00 and gave the stock a "market perform" rating in a report on Thursday, July 30th. Raymond James Financial upped their price objective on Camden National from $56.00 to $58.00 and gave the company an "outperform" rating in a research report on Wednesday, July 1st. Finally, National Bank Financial set a $55.00 price objective on Camden National in a research note on Thursday, July 30th.

Institutional Trading of Camden National

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. 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 valued at $3,305,000 after purchasing an additional 53,154 shares during the last quarter. Dean Capital Management increased its stake in shares of Camden National by 57.7% during the 1st quarter. Dean Capital Management now owns 61,881 shares of the financial services provider's stock worth $2,936,000 after purchasing an additional 22,630 shares during the last quarter. Kimelman & Baird LLC bought a new stake in Camden National in the second quarter worth $7,444,000. UBS Group AG raised its holdings in Camden National by 47.2% during the fourth quarter. UBS Group AG now owns 58,395 shares of the financial services provider's stock valued at $2,533,000 after buying an additional 18,722 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Camden National during the 2nd quarter valued at about $1,591,000. 77.41% of the stock is currently owned by institutional investors.

Camden National Stock Up 0.6%

Camden National stock opened at $58.30 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $985.27 million, a price-to-earnings ratio of 11.17 and a beta of 0.54. Camden National has a fifty-two week low of $35.00 and a fifty-two week high of $60.59. The stock's fifty day moving average is $56.63 and its two-hundred day moving average is $51.91.

Camden National (NASDAQ:CAC - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.06. The business had revenue of $67.41 million during the quarter, compared to the consensus estimate of $66.41 million. Camden National had a return on equity of 12.59% and a net margin of 23.64%. Analysts predict that Camden National will post 5.43 EPS for the current fiscal year.

Camden National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $1.68 annualized dividend and a dividend yield of 2.9%. Camden National's payout ratio is 32.18%.

Camden National Company Profile

Camden National Corporation NASDAQ: CAC is a bank holding company headquartered in Camden, Maine. Its principal subsidiary, Camden National Bank, provides banking and financial services to individuals, families, businesses, nonprofit organizations and municipalities across Maine.

The bank offers deposit accounts, residential and commercial lending, home equity loans, consumer loans, cash-management services, online and mobile banking, and other financial products. Through its wealth-management operations, Camden National also provides investment management, trust, retirement planning and related advisory services.

Camden National traces its history to 1875 and has grown into a community-focused banking organization serving customers through a network of locations throughout Maine.

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