Camden National Co. (NASDAQ:CAC) Given $52.00 Consensus Target Price by Brokerages

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

Analysts have set a 12-month consensus price objective of $52.00 for the company and are forecasting that the company will post $0.92 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Camden National an industry rank of 159 out of 256 based on the ratings given to its competitors.

CAC has been the topic of several analyst reports. ValuEngine lowered shares of Camden National from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Zacks Investment Research lowered shares of Camden National from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. Finally, BidaskClub upgraded shares of Camden National from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st.



Several large investors have recently made changes to their positions in CAC. Legal & General Group Plc increased its stake in shares of Camden National by 11.3% during the fourth quarter. Legal & General Group Plc now owns 2,840 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 288 shares during the period. BMT Investment Advisors increased its stake in shares of Camden National by 1.0% during the first quarter. BMT Investment Advisors now owns 52,694 shares of the financial services provider’s stock valued at $2,198,000 after acquiring an additional 500 shares during the period. Citigroup Inc. increased its stake in shares of Camden National by 17.5% during the fourth quarter. Citigroup Inc. now owns 4,999 shares of the financial services provider’s stock valued at $180,000 after acquiring an additional 743 shares during the period. Walthausen & Co. LLC increased its stake in shares of Camden National by 0.8% during the fourth quarter. Walthausen & Co. LLC now owns 155,091 shares of the financial services provider’s stock valued at $5,579,000 after acquiring an additional 1,230 shares during the period. Finally, Putnam FL Investment Management Co. increased its stake in shares of Camden National by 18.2% during the fourth quarter. Putnam FL Investment Management Co. now owns 9,510 shares of the financial services provider’s stock valued at $342,000 after acquiring an additional 1,465 shares during the period. Institutional investors own 66.21% of the company’s stock.

Shares of NASDAQ:CAC opened at $44.99 on Friday. The company has a 50 day moving average price of $43.91. Camden National has a 52 week low of $33.49 and a 52 week high of $47.25. The firm has a market capitalization of $693.43 million, a price-to-earnings ratio of 13.27 and a beta of 0.82. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.15.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.80 by $0.12. Camden National had a net margin of 27.70% and a return on equity of 12.73%. The company had revenue of $41.28 million for the quarter, compared to analyst estimates of $40.30 million. Sell-side analysts anticipate that Camden National will post 3.75 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be paid a $0.30 dividend. The ex-dividend date is Friday, July 12th. This represents a $1.20 annualized dividend and a dividend yield of 2.67%. Camden National’s payout ratio is currently 35.40%.

Camden National Company Profile

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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