Camden National (NASDAQ:CAC) Reaches New 52-Week High – Time to Buy?

Camden National Corporation (NASDAQ:CAC)’s share price reached a new 52-week high on Friday . The stock traded as high as $51.93 and last traded at $52.0830, with a volume of 45101 shares trading hands. The stock had previously closed at $49.66.

Analyst Upgrades and Downgrades

CAC has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their price target on Camden National from $45.00 to $47.00 and gave the company a “market perform” rating in a research note on Wednesday, January 28th. Stephens reiterated an “equal weight” rating and set a $53.00 price target on shares of Camden National in a research note on Thursday, February 5th. National Bank Financial set a $47.00 price target on Camden National in a research note on Wednesday, January 28th. Finally, Weiss Ratings upgraded Camden National from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 19th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Camden National currently has a consensus rating of “Hold” and an average target price of $49.00.

Camden National Stock Up 3.1%

The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.09. The stock has a market cap of $869.38 million, a PE ratio of 13.33 and a beta of 0.58. The business has a 50 day moving average price of $47.96 and a 200 day moving average price of $44.14.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, January 27th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates 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 expect that Camden National Corporation will post 4.25 EPS for the current fiscal year.

Camden National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th will be paid a $0.42 dividend. The ex-dividend date is Wednesday, April 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.3%. Camden National’s dividend payout ratio is presently 43.75%.

Institutional Trading of Camden National

Hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue purchased a new stake in shares of Camden National in the third quarter worth about $26,000. Russell Investments Group Ltd. boosted its stake in shares of Camden National by 13,790.0% in the third quarter. Russell Investments Group Ltd. now owns 1,389 shares of the financial services provider’s stock worth $54,000 after buying an additional 1,379 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Camden National in the third quarter worth about $58,000. Nisa Investment Advisors LLC boosted its stake in shares of Camden National by 15,220.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,532 shares of the financial services provider’s stock worth $66,000 after buying an additional 1,522 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Camden National in the fourth quarter worth about $92,000. Hedge funds and other institutional investors own 77.41% of the company’s stock.

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.