Brokerages Anticipate Camden National Co. (NASDAQ:CAC) to Announce $0.95 EPS

Shares of Camden National Co. (NASDAQ:CAC) have earned 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.

Brokerages have set a one year consensus price objective of $50.00 for the company and are expecting that the company will post $0.95 EPS for the current quarter, according to Zacks. Zacks has also assigned Camden National an industry rank of 184 out of 256 based on the ratings given to related companies.

Several brokerages have recently commented on CAC. ValuEngine raised Camden National from a “sell” rating to a “hold” rating in a research note on Thursday. BidaskClub downgraded Camden National from a “buy” rating to a “hold” rating in a research note on Thursday, June 20th. Finally, Zacks Investment Research downgraded Camden National from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd.

Institutional investors and hedge funds have recently modified their holdings of the stock. Great West Life Assurance Co. Can increased its position in shares of Camden National by 1,746.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 1,754 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 1,659 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Camden National during the first quarter valued at approximately $111,000. Legal & General Group Plc increased its position 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 valued at $102,000 after acquiring an additional 288 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in 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 valued at $134,000 after purchasing an additional 2,578 shares during the period. Finally, Metropolitan Life Insurance Co. NY grew its holdings in 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 valued at $176,000 after purchasing an additional 3,794 shares during the period. 67.72% of the stock is owned by institutional investors.

Shares of Camden National stock traded down $0.58 on Friday, hitting $43.18. 38,037 shares of the company’s stock traded hands, compared to its average volume of 35,098. Camden National has a one year low of $33.49 and a one year high of $47.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s fifty day moving average price is $44.50. The company has a market cap of $679.23 million, a P/E ratio of 12.74 and a beta of 0.79.

Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $0.85 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.07). Camden National had a net margin of 27.38% and a return on equity of 12.77%. The business had revenue of $41.61 million for the quarter, compared to the consensus estimate of $42.60 million. As a group, analysts expect that Camden National will post 3.75 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend was Friday, July 12th. Camden National’s payout ratio is 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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