Camden National (NASDAQ:CAC) Hits New 1-Year High – Still a Buy?

Camden National Co. (NASDAQ:CAC)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $43.75 and last traded at $43.23, with a volume of 6709 shares. The stock had previously closed at $42.20.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CAC shares. StockNews.com initiated coverage on shares of Camden National in a report on Thursday. They issued a “hold” rating for the company. Stephens boosted their price target on Camden National from $35.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a research note on Wednesday, September 11th.

Camden National Price Performance

The company has a market capitalization of $611.21 million, a PE ratio of 13.11 and a beta of 0.72. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The company’s 50 day moving average price is $40.08 and its 200-day moving average price is $35.98.

Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.10. Camden National had a return on equity of 10.09% and a net margin of 16.47%. The company had revenue of $72.81 million for the quarter, compared to the consensus estimate of $41.07 million. During the same period last year, the business posted $0.85 EPS. On average, sell-side analysts forecast that Camden National Co. will post 3.42 earnings per share for the current fiscal year.

Camden National Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.68 dividend on an annualized basis and a yield of 4.00%. Camden National’s dividend payout ratio (DPR) is 52.50%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CAC. Kimelman & Baird LLC purchased a new stake in shares of Camden National in the second quarter worth about $4,943,000. Signaturefd LLC boosted its holdings in Camden National by 2,990.3% in the 1st quarter. Signaturefd LLC now owns 38,567 shares of the financial services provider’s stock worth $1,293,000 after acquiring an additional 37,319 shares during the period. ProShare Advisors LLC grew its position in Camden National by 13.2% in the first quarter. ProShare Advisors LLC now owns 239,468 shares of the financial services provider’s stock valued at $8,027,000 after acquiring an additional 28,007 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Camden National by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 836,521 shares of the financial services provider’s stock valued at $27,605,000 after acquiring an additional 26,450 shares in the last quarter. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Camden National during the second quarter valued at approximately $757,000. 77.41% of the stock is owned by hedge funds and other institutional investors.

Camden National Company Profile

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.