Camden National Co. (NASDAQ:CAC) – Piper Jaffray Companies upped their FY2018 earnings estimates for shares of Camden National in a research note issued on Wednesday, October 31st. Piper Jaffray Companies analyst M. Breese now anticipates that the financial services provider will earn $3.33 per share for the year, up from their prior forecast of $3.30. Piper Jaffray Companies currently has a “Buy” rating and a $51.50 target price on the stock. Piper Jaffray Companies also issued estimates for Camden National’s Q1 2020 earnings at $0.89 EPS, Q2 2020 earnings at $0.94 EPS and FY2020 earnings at $3.75 EPS.
Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, July 31st. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.04). The company had revenue of $38.98 million during the quarter, compared to the consensus estimate of $39.40 million. Camden National had a net margin of 19.47% and a return on equity of 12.37%.
A number of other research analysts have also commented on the company. BidaskClub raised Camden National from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Zacks Investment Research raised Camden National from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Monday, August 6th. Finally, ValuEngine lowered Camden National from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $48.17.
CAC stock opened at $41.11 on Thursday. 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 capitalization of $657.16 million, a price-to-earnings ratio of 15.06 and a beta of 0.61. Camden National has a 1 year low of $38.98 and a 1 year high of $47.86.
Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in Camden National during the second quarter worth about $116,000. Atlantic Trust LLC acquired a new position in Camden National during the second quarter worth about $156,000. People s United Financial Inc. acquired a new position in Camden National during the second quarter worth about $210,000. Millennium Management LLC acquired a new position in Camden National during the first quarter worth about $205,000. Finally, Zebra Capital Management LLC acquired a new position in Camden National during the second quarter worth about $215,000. 63.13% of the stock is currently owned by institutional investors.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Monday, October 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Friday, October 12th. Camden National’s dividend payout ratio (DPR) is 43.96%.
About Camden National
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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