Camden National (NASDAQ:CAC) Reaches New 52-Week High – Here’s Why
by Amy Steele · The Cerbat GemCamden National Corporation (NASDAQ:CAC – Get Free Report) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $46.83 and last traded at $46.8940, with a volume of 30611 shares trading hands. The stock had previously closed at $44.57.
Wall Street Analyst Weigh In
CAC has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Camden National in a research report on Monday, December 29th. Keefe, Bruyette & Woods upped their price objective on Camden National from $44.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday, October 29th. National Bankshares set a $45.00 target price on Camden National in a report on Wednesday, October 29th. Finally, Janney Montgomery Scott raised shares of Camden National to a “hold” rating in a report on Wednesday, October 22nd. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.75.
Check Out Our Latest Stock Analysis on CAC
Camden National Stock Up 6.0%
The stock has a fifty day moving average of $43.07 and a 200-day moving average of $40.67. The firm has a market capitalization of $799.73 million, a price-to-earnings ratio of 13.46 and a beta of 0.65. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09.
Camden National (NASDAQ:CAC – Get Free Report) last announced its earnings results on Tuesday, October 28th. The financial services provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.23 by $0.01. Camden National had a return on equity of 10.76% and a net margin of 16.24%.The business had revenue of $116.67 million during the quarter, compared to the consensus estimate of $63.20 million. As a group, sell-side analysts expect that Camden National Corporation will post 4.25 EPS for the current year.
Camden National Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Thursday, January 15th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Thursday, January 15th. Camden National’s dividend payout ratio (DPR) is 47.86%.
Institutional Investors Weigh In On Camden National
Hedge funds have recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey raised its stake in shares of Camden National by 9.6% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 3,825 shares of the financial services provider’s stock valued at $155,000 after acquiring an additional 335 shares in the last quarter. Quantbot Technologies LP boosted its position in Camden National by 11.9% during the third quarter. Quantbot Technologies LP now owns 3,545 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 378 shares during the period. Bryn Mawr Trust Advisors LLC grew its holdings in Camden National by 6.7% during the second quarter. Bryn Mawr Trust Advisors LLC now owns 6,161 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 386 shares during the last quarter. Intech Investment Management LLC grew its holdings in Camden National by 6.1% during the third quarter. Intech Investment Management LLC now owns 7,282 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 421 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of Camden National by 2.2% in the fourth quarter. Signaturefd LLC now owns 20,592 shares of the financial services provider’s stock valued at $893,000 after purchasing an additional 434 shares during the period. Hedge funds and other institutional investors own 77.41% of the company’s stock.
Camden National Company Profile
Camden National Corporation is a bank holding company headquartered in Camden, Maine. Through its primary subsidiary, Camden National Bank, the company provides a full range of community banking services to individuals and businesses. Its branch network spans much of the State of Maine, with a concentration in the midcoast, central and southern regions.
The company’s offerings include deposit products such as checking, savings and money market accounts, along with consumer and commercial lending services.