Zacks: Brokerages Set $52.00 Price Target for Camden National Co. (NASDAQ:CAC)

Camden National Co. (NASDAQ:CAC) has earned 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 rating.

Brokers have set a 1 year consensus price objective of $52.00 for the company and are forecasting that the company will post $0.92 EPS for the current quarter, according to Zacks. Zacks has also given Camden National an industry rank of 178 out of 256 based on the ratings given to related companies.

Several equities analysts recently weighed in on CAC shares. Zacks Investment Research lowered shares of EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. BidaskClub upgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, June 20th. Finally, ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st.

Institutional investors and hedge funds have recently bought and sold shares of the business. Great West Life Assurance Co. Can raised its holdings in Camden National by 1,746.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 1,754 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 1,659 shares during the period. Legal & General Group Plc raised its holdings in shares of Camden National by 11.3% during the fourth quarter. Legal & General Group Plc now owns 2,840 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 288 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Camden National during the first quarter worth $111,000. BNP Paribas Arbitrage SA raised its holdings in shares of Camden National by 400.9% during the first quarter. BNP Paribas Arbitrage SA now owns 3,221 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 2,578 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its holdings in shares of Camden National by 346.2% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,890 shares of the financial services provider’s stock worth $176,000 after acquiring an additional 3,794 shares during the period. Institutional investors own 66.21% of the company’s stock.

NASDAQ CAC traded up $0.11 during trading hours on Friday, hitting $44.71. The company’s stock had a trading volume of 18,095 shares, compared to its average volume of 34,830. The stock has a fifty day moving average of $43.93. Camden National has a twelve month low of $33.49 and a twelve month high of $47.25. The firm has a market cap of $688.23 million, a price-to-earnings ratio of 13.19 and a beta of 0.82. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.15.

Camden National (NASDAQ:CAC) last announced its quarterly earnings data 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 analyst estimates of $40.30 million. As a group, sell-side analysts anticipate that Camden National will post 3.75 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.20 annualized dividend and a yield of 2.68%. Camden National’s dividend payout ratio (DPR) is presently 35.40%.

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, as well as certificates of deposit.

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