Shares of Camden National Corporation (NASDAQ:CAC – Get Free Report) have been assigned a consensus rating of “Hold” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $52.75.
CAC has been the topic of a number of recent analyst reports. National Bank Financial set a $50.00 price target on Camden National in a research report on Wednesday, April 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Camden National in a research note on Tuesday, June 9th. Raymond James Financial boosted their target price on shares of Camden National from $56.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods increased their price target on shares of Camden National from $47.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th.
Get Our Latest Stock Report on Camden National
Camden National Stock Performance
Camden National (NASDAQ:CAC – Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. The firm had revenue of $64.34 million during the quarter, compared to the consensus estimate of $65.57 million. Camden National had a net margin of 21.32% and a return on equity of 11.78%. On average, equities analysts forecast that Camden National will post 5.37 EPS for the current year.
Camden National Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, July 15th. Camden National’s dividend payout ratio (DPR) is currently 35.74%.
Hedge Funds Weigh In On Camden National
Several hedge funds and other institutional investors have recently modified their holdings of CAC. Franklin Resources Inc. raised its holdings in shares of Camden National by 7.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,559,400 shares of the financial services provider’s stock worth $60,177,000 after buying an additional 113,221 shares in the last quarter. Wellington Management Group LLP boosted its stake in Camden National by 70.4% in the fourth quarter. Wellington Management Group LLP now owns 220,382 shares of the financial services provider’s stock valued at $9,560,000 after buying an additional 91,018 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Camden National by 2,802.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 64,348 shares of the financial services provider’s stock valued at $2,791,000 after buying an additional 62,131 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Camden National by 98.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 120,062 shares of the financial services provider’s stock valued at $5,208,000 after acquiring an additional 59,479 shares during the last quarter. Finally, Empowered Funds LLC grew its position in Camden National by 322.3% in the first quarter. Empowered Funds LLC now owns 69,644 shares of the financial services provider’s stock valued at $3,305,000 after acquiring an additional 53,154 shares during the last quarter. Institutional investors own 77.41% of the company’s stock.
About Camden National
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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