Shares of Camden National Co. (NASDAQ:CAC) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.
Analysts have set a 1 year consensus price target of $52.00 for the company and are predicting that the company will post $0.92 earnings per share for the current quarter, according to Zacks. Zacks has also given Camden National an industry rank of 183 out of 256 based on the ratings given to related companies.
Several equities research analysts have recently weighed in on CAC shares. Zacks Investment Research raised shares of Camden National from a “hold” rating to a “strong-buy” rating and set a $47.00 target price on the stock in a research note on Friday, February 1st. ValuEngine raised shares of Camden National from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Finally, BidaskClub raised shares of Camden National from a “hold” rating to a “buy” rating in a research note on Saturday, February 9th.
Shares of CAC opened at $43.32 on Tuesday. Camden National has a twelve month low of $33.49 and a twelve month high of $47.86. The firm has a market capitalization of $687.46 million, a PE ratio of 12.78 and a beta of 0.80. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15.
Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.12. Camden National had a net margin of 27.70% and a return on equity of 12.73%. The business had revenue of $41.28 million for the quarter, compared to the consensus estimate of $40.30 million. On average, equities research analysts predict that Camden National will post 3.75 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.77%. The ex-dividend date was Friday, April 12th. Camden National’s dividend payout ratio is presently 35.40%.
In related news, CEO Gregory A. Dufour purchased 1,607 shares of Camden National stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average price of $32.73 per share, with a total value of $52,597.11. Following the purchase, the chief executive officer now directly owns 90,282 shares of the company’s stock, valued at approximately $2,954,929.86. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Deborah A. Jordan purchased 867 shares of Camden National stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average cost of $32.73 per share, for a total transaction of $28,376.91. Following the purchase, the chief financial officer now directly owns 55,500 shares in the company, valued at $1,816,515. The disclosure for this purchase can be found here. Insiders purchased a total of 2,715 shares of company stock worth $88,862 in the last ninety days. 2.04% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC increased its position in Camden National by 181.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 116,453 shares of the financial services provider’s stock valued at $4,188,000 after purchasing an additional 75,006 shares during the period. FMR LLC increased its position in Camden National by 3.5% during the 4th quarter. FMR LLC now owns 1,398,724 shares of the financial services provider’s stock valued at $50,312,000 after purchasing an additional 47,691 shares during the period. Eagle Asset Management Inc. increased its position in Camden National by 51.4% during the 4th quarter. Eagle Asset Management Inc. now owns 128,206 shares of the financial services provider’s stock valued at $4,611,000 after purchasing an additional 43,519 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in Camden National by 136.2% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 69,350 shares of the financial services provider’s stock valued at $2,893,000 after purchasing an additional 39,990 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Camden National by 21.7% during the 4th quarter. Bank of New York Mellon Corp now owns 207,160 shares of the financial services provider’s stock valued at $7,450,000 after purchasing an additional 36,975 shares during the period. 67.51% of the stock is currently owned by institutional investors.
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, as well as certificates of deposit.
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