Camden National (CAC) Raised to Hold at BidaskClub

BidaskClub upgraded shares of Camden National (NASDAQ:CAC) from a sell rating to a hold rating in a research note released on Saturday.

Several other research firms have also recently issued reports on CAC. Zacks Investment Research raised shares of Camden National from a hold rating to a buy rating and set a $49.00 price target for the company in a report on Monday, August 6th. Piper Jaffray Companies restated a buy rating and set a $51.50 target price on shares of Camden National in a research report on Friday, August 3rd. Finally, ValuEngine lowered shares of Camden National from a hold rating to a sell rating in a research report on Tuesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Camden National presently has a consensus rating of Hold and an average target price of $49.50.

NASDAQ CAC opened at $43.09 on Friday. The stock has a market cap of $676.63 million, a P/E ratio of 15.85 and a beta of 0.61. Camden National has a 52-week low of $40.25 and a 52-week high of $47.86. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.80 and a quick ratio of 0.80.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, July 31st. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.04). The firm had revenue of $38.98 million for the quarter, compared to analysts’ expectations of $39.40 million. Camden National had a return on equity of 11.64% and a net margin of 18.39%. As a group, sell-side analysts predict that Camden National will post 3.3 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Monday, October 15th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, October 12th. This represents a $1.20 annualized dividend and a yield of 2.78%. Camden National’s payout ratio is currently 43.96%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in shares of Camden National in the second quarter valued at approximately $116,000. Atlantic Trust LLC acquired a new stake in shares of Camden National in the second quarter valued at approximately $156,000. People s United Financial Inc. acquired a new stake in shares of Camden National in the second quarter valued at approximately $210,000. Millennium Management LLC acquired a new stake in shares of Camden National in the first quarter valued at approximately $205,000. Finally, Zebra Capital Management LLC acquired a new stake in shares of Camden National in the second quarter valued at approximately $215,000. Institutional investors own 63.29% of the company’s stock.

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.

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