Shares of Camden National Co. (NASDAQ:CAC) have earned a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.
Analysts have set a twelve-month consensus price target of $51.00 for the company and are predicting that the company will post $0.82 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Camden National an industry rank of 173 out of 265 based on the ratings given to related companies.
Several equities research analysts have issued reports on CAC shares. BidaskClub lowered shares of Camden National from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Piper Jaffray boosted their price target on shares of Camden National from $50.50 to $51.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. ValuEngine lowered shares of Camden National from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $48.00 price target on shares of Camden National in a report on Friday, December 22nd.
In other Camden National news, CEO Gregory A. Dufour purchased 1,810 shares of the stock in a transaction on Thursday, March 15th. The shares were purchased at an average price of $30.15 per share, with a total value of $54,571.50. Following the acquisition, the chief executive officer now directly owns 85,725 shares of the company’s stock, valued at approximately $2,584,608.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Deborah A. Jordan bought 961 shares of the stock in a transaction dated Thursday, March 15th. The stock was purchased at an average cost of $30.15 per share, for a total transaction of $28,974.15. Following the acquisition, the chief financial officer now owns 51,702 shares in the company, valued at approximately $1,558,815.30. The disclosure for this purchase can be found here. Insiders acquired a total of 3,308 shares of company stock worth $99,736 in the last three months. Insiders own 2.02% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of CAC. SG Americas Securities LLC bought a new stake in shares of Camden National in the 3rd quarter worth about $208,000. Teacher Retirement System of Texas bought a new stake in shares of Camden National in the 4th quarter worth about $225,000. MetLife Investment Advisors LLC bought a new stake in shares of Camden National in the 4th quarter worth about $330,000. Citadel Advisors LLC grew its holdings in shares of Camden National by 58.3% in the 3rd quarter. Citadel Advisors LLC now owns 8,605 shares of the financial services provider’s stock worth $376,000 after purchasing an additional 3,168 shares during the last quarter. Finally, Putnam FL Investment Management Co. bought a new stake in shares of Camden National in the 4th quarter worth about $399,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.
Shares of CAC stock opened at $43.65 on Tuesday. Camden National has a 1 year low of $37.10 and a 1 year high of $47.41. The firm has a market cap of $683.60, a P/E ratio of 15.99 and a beta of 0.76. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.80 and a current ratio of 0.80.
Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, January 30th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.02. Camden National had a net margin of 16.30% and a return on equity of 10.54%. The business had revenue of $39.50 million for the quarter. analysts predict that Camden National will post 3.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Friday, April 13th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.29%. The ex-dividend date is Thursday, April 12th. Camden National’s dividend payout ratio (DPR) is presently 36.63%.
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Camden National Company Profile
Camden National Corporation is a bank holding company. The Company is a diversified financial services provider. The primary business of the Company and its subsidiary, Camden National Bank (the Bank), is to attract deposits from, and to extend loans to, consumer, institutional, municipal, non-profit and commercial customers.
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