Camden National Co. (NASDAQ:CAC) Receives Average Recommendation of “Strong Buy” from Analysts

Shares of Camden National Co. (NASDAQ:CAC) have been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Brokers have set a 1 year consensus price target of $52.00 for the company and are expecting that the company will post $0.92 EPS for the current quarter, according to Zacks. Zacks has also given Camden National an industry rank of 207 out of 256 based on the ratings given to its competitors.

CAC has been the topic of several recent research reports. BidaskClub raised shares of Camden National from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. ValuEngine downgraded shares of Camden National from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Finally, Zacks Investment Research raised shares of Camden National from a “hold” rating to a “strong-buy” rating and set a $52.00 price target on the stock in a report on Friday, May 3rd.



CAC stock traded down $0.13 during trading on Thursday, reaching $43.58. 290 shares of the company were exchanged, compared to its average volume of 36,172. The stock has a market cap of $678.38 million, a P/E ratio of 12.73 and a beta of 0.80. Camden National has a 52-week low of $33.49 and a 52-week high of $47.34. The firm’s 50 day moving average is $43.92. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15.

Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.12. The firm had revenue of $41.28 million for the quarter, compared to the consensus estimate of $40.30 million. Camden National had a net margin of 27.70% and a return on equity of 12.73%. Equities analysts expect that Camden National will post 3.75 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of Camden National by 3.1% during the fourth quarter. BlackRock Inc. now owns 1,172,060 shares of the financial services provider’s stock valued at $42,159,000 after buying an additional 35,576 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Camden National by 181.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 116,453 shares of the financial services provider’s stock valued at $4,188,000 after buying an additional 75,006 shares during the period. Royce & Associates LP lifted its stake in shares of Camden National by 2.4% during the fourth quarter. Royce & Associates LP now owns 576,703 shares of the financial services provider’s stock valued at $20,744,000 after buying an additional 13,633 shares during the period. Walthausen & Co. LLC lifted its stake in shares of Camden National by 17.4% during the first quarter. Walthausen & Co. LLC now owns 182,041 shares of the financial services provider’s stock valued at $7,595,000 after buying an additional 26,950 shares during the period. Finally, FMR LLC lifted its stake in shares of Camden National by 3.5% during the fourth quarter. FMR LLC now owns 1,398,724 shares of the financial services provider’s stock valued at $50,312,000 after buying an additional 47,691 shares during the period. 66.21% of the stock is currently owned by institutional investors and hedge funds.

About Camden National

Camden National Corporation operates as the holding company for Camden National Bank that provides commercial and consumer banking products and services to consumer, institutional, municipal, non-profit, and commercial customers. It offers various deposit products, including demand, checking, saving, and money market accounts; and time deposits, as well as certificates of deposit.

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