Zacks Investment Research lowered shares of Camden National (NASDAQ:CAC) from a buy rating to a hold rating in a research note issued to investors on Friday morning.
According to Zacks, “Camden National Corporation is a multi-bank, financial institution holding company. Products services are available directly and indirectly through its subsidiaries, Camden National Bank, UnitedKingfield Bank, Acadia Trust, N.A, and Trust Company of Maine, Inc. “
A number of other brokerages have also commented on CAC. BidaskClub upgraded Camden National from a hold rating to a buy rating in a report on Friday, July 6th. ValuEngine lowered Camden National from a hold rating to a sell rating in a report on Tuesday, October 2nd. Finally, Piper Jaffray Companies restated a buy rating and issued a $51.50 price target on shares of Camden National in a report on Friday, August 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $48.17.
CAC stock traded up $0.15 during midday trading on Friday, hitting $41.11. 20,885 shares of the company’s stock were exchanged, compared to its average volume of 30,893. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.17. The firm has a market cap of $640.33 million, a PE ratio of 15.06 and a beta of 0.67. Camden National has a one year low of $38.98 and a one year high of $47.86.
Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, July 31st. The financial services provider reported $0.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.04). The business had revenue of $38.98 million for the quarter, compared to the consensus estimate of $39.40 million. Camden National had a return on equity of 12.37% and a net margin of 19.47%. On average, analysts forecast that Camden National will post 3.33 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Monday, October 15th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, October 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.92%. Camden National’s dividend payout ratio (DPR) is 43.96%.
Several institutional investors have recently modified their holdings of CAC. American Century Companies Inc. increased its position in shares of Camden National by 10.2% in the third quarter. American Century Companies Inc. now owns 27,971 shares of the financial services provider’s stock valued at $1,215,000 after acquiring an additional 2,598 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Camden National by 3.1% in the third quarter. Wells Fargo & Company MN now owns 52,109 shares of the financial services provider’s stock valued at $2,264,000 after acquiring an additional 1,579 shares during the last quarter. Northern Trust Corp increased its position in shares of Camden National by 3.3% in the second quarter. Northern Trust Corp now owns 198,841 shares of the financial services provider’s stock valued at $9,089,000 after acquiring an additional 6,428 shares during the last quarter. HM Payson & Co. acquired a new stake in shares of Camden National in the second quarter valued at about $986,000. Finally, Atlantic Trust LLC acquired a new stake in shares of Camden National in the second quarter valued at about $156,000. Institutional investors own 63.13% of the company’s stock.
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.
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