Camden National Co. (NASDAQ:CAC - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $43.50 and last traded at $42.75, with a volume of 18722 shares changing hands. The stock had previously closed at $42.19.
Wall Street Analysts Forecast Growth
CAC has been the subject of several recent analyst reports. StockNews.com assumed coverage on Camden National in a research note on Tuesday. They set a "hold" rating for the company. Stephens boosted their price objective on shares of Camden National from $35.00 to $42.00 and gave the company an "equal weight" rating in a report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods upped their target price on shares of Camden National from $40.00 to $41.00 and gave the company a "market perform" rating in a research report on Wednesday, September 11th.
View Our Latest Stock Report on CAC
Camden National Price Performance
The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.81. The firm has a market capitalization of $624.01 million, a price-to-earnings ratio of 14.19 and a beta of 0.72. The stock has a 50 day moving average price of $38.94 and a two-hundred day moving average price of $35.14.
Camden National (NASDAQ:CAC - Get Free Report) last released its earnings results on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.10. The company had revenue of $72.81 million during the quarter, compared to the consensus estimate of $41.07 million. Camden National had a return on equity of 10.36% and a net margin of 16.01%. During the same period in the previous year, the company posted $0.85 EPS. As a group, analysts expect that Camden National Co. will post 3.34 EPS for the current year.
Camden National Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be given a $0.42 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $1.68 annualized dividend and a yield of 3.93%. Camden National's dividend payout ratio is presently 55.81%.
Institutional Trading of Camden National
A number of large investors have recently modified their holdings of the stock. Rhumbline Advisers increased its stake in shares of Camden National by 1.4% during the second quarter. Rhumbline Advisers now owns 23,077 shares of the financial services provider's stock worth $762,000 after buying an additional 319 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Camden National in the 2nd quarter valued at approximately $73,000. Empowered Funds LLC raised its holdings in shares of Camden National by 7.9% in the 1st quarter. Empowered Funds LLC now owns 33,496 shares of the financial services provider's stock valued at $1,123,000 after purchasing an additional 2,450 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Camden National by 58.1% during the 3rd quarter. SG Americas Securities LLC now owns 7,077 shares of the financial services provider's stock worth $292,000 after purchasing an additional 2,602 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Camden National by 89.3% during the first quarter. BNP Paribas Financial Markets now owns 7,060 shares of the financial services provider's stock worth $237,000 after purchasing an additional 3,330 shares in the last quarter. Hedge funds and other institutional investors own 77.41% of the company's stock.
About Camden National
(
Get Free Report)
Camden National Corporation operates as the bank holding company for Camden National Bank that provides various commercial and consumer banking products and services for consumer, institutional, municipal, non-profit, and commercial customers in Maine, New Hampshire, and Massachusetts. The company accepts checking, savings, time, and brokered deposits, as well as deposits with the certificate of deposit account registry system.
Further Reading
Before you consider Camden National, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Camden National wasn't on the list.
While Camden National currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's guide to investing in electric vehicle technologies (EV) and which EV stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
