Camden National Co. (NASDAQ:CAC) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Brokers have set a 1-year consensus price objective of $50.50 for the company and are expecting 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 138 out of 255 based on the ratings given to related companies.
A number of brokerages recently weighed in on CAC. BidaskClub cut shares of Camden National from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. ValuEngine upgraded shares of Camden National from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, Zacks Investment Research upgraded shares of Camden National from a “hold” rating to a “strong-buy” rating and set a $47.00 price objective for the company in a report on Friday, February 1st.
In other Camden National news, CEO Gregory A. Dufour sold 1,250 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $43.50, for a total transaction of $54,375.00. Following the completion of the transaction, the chief executive officer now owns 88,675 shares in the company, valued at approximately $3,857,362.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.02% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of CAC. Legal & General Group Plc boosted its holdings in shares of Camden National by 11.3% in the 4th quarter. Legal & General Group Plc now owns 2,840 shares of the financial services provider’s stock valued at $102,000 after buying an additional 288 shares in the last quarter. Bowling Portfolio Management LLC boosted its holdings in shares of Camden National by 2.0% in the 4th quarter. Bowling Portfolio Management LLC now owns 26,161 shares of the financial services provider’s stock valued at $941,000 after buying an additional 514 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of Camden National by 17.5% in the 4th quarter. Citigroup Inc. now owns 4,999 shares of the financial services provider’s stock valued at $180,000 after buying an additional 743 shares in the last quarter. Walthausen & Co. LLC boosted its holdings in shares of Camden National by 0.8% in the 4th quarter. Walthausen & Co. LLC now owns 155,091 shares of the financial services provider’s stock valued at $5,579,000 after buying an additional 1,230 shares in the last quarter. Finally, Putnam FL Investment Management Co. boosted its holdings in shares of Camden National by 18.2% in the 4th quarter. Putnam FL Investment Management Co. now owns 9,510 shares of the financial services provider’s stock valued at $342,000 after buying an additional 1,465 shares in the last quarter. Institutional investors own 66.84% of the company’s stock.
Shares of CAC stock traded down $0.13 during trading on Thursday, reaching $43.64. The company’s stock had a trading volume of 23,969 shares, compared to its average volume of 30,974. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $680.12 million, a P/E ratio of 12.87 and a beta of 0.80. Camden National has a 1-year low of $33.49 and a 1-year high of $47.86.
Camden National (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, January 29th. The financial services provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The firm had revenue of $41.07 million during the quarter, compared to analysts’ expectations of $40.30 million. Camden National had a net margin of 28.00% and a return on equity of 12.93%. On average, research analysts forecast that Camden National will post 3.55 EPS for the current fiscal year.
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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