CAC

Camden National (CAC) Price Target Increased by 8.57% to 38.76

The average one-year price target for Camden National (NasdaqGS:CAC) has been revised to 38.76 / share. This is an increase of 8.57% from the prior estimate of 35.70 dated January 16, 2024.

The price target is an average of many targets provided by analysts. The latest targets range from a low of 37.37 to a high of 40.95 / share. The average price target represents an increase of 22.50% from the latest reported closing price of 31.64 / share.

Camden National Declares $0.42 Dividend

On December 19, 2023 the company declared a regular quarterly dividend of $0.42 per share ($1.68 annualized). Shareholders of record as of January 15, 2024 received the payment on January 31, 2024. Previously, the company paid $0.42 per share.

At the current share price of $31.64 / share, the stock's dividend yield is 5.31%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.68%, the lowest has been 2.56%, and the highest has been 6.19%. The standard deviation of yields is 0.88 (n=233).

The current dividend yield is 1.86 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.56. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.27%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 302 funds or institutions reporting positions in Camden National. This is an increase of 12 owner(s) or 4.14% in the last quarter. Average portfolio weight of all funds dedicated to CAC is 0.07%, an increase of 10.10%. Total shares owned by institutions increased in the last three months by 2.18% to 12,705K shares. CAC / Camden National Corporation Put/Call Ratios The put/call ratio of CAC is 4.50, indicating a bearish outlook.

What are Other Shareholders Doing?

CAC / Camden National Corporation Shares Held by Institutions

Franklin Resources holds 1,237K shares representing 8.49% ownership of the company. In it's prior filing, the firm reported owning 1,101K shares, representing an increase of 10.99%. The firm decreased its portfolio allocation in CAC by 68.94% over the last quarter.

FRVLX - Franklin Small Cap Value Fund holds 773K shares representing 5.31% ownership of the company. In it's prior filing, the firm reported owning 749K shares, representing an increase of 3.14%. The firm increased its portfolio allocation in CAC by 1.84% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 403K shares representing 2.77% ownership of the company. No change in the last quarter.

IWM - iShares Russell 2000 ETF holds 360K shares representing 2.47% ownership of the company. In it's prior filing, the firm reported owning 378K shares, representing a decrease of 5.19%. The firm decreased its portfolio allocation in CAC by 9.38% over the last quarter.

FLPSX - Fidelity Low-Priced Stock Fund holds 338K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 338K shares, representing a decrease of 0.10%. The firm decreased its portfolio allocation in CAC by 4.87% over the last quarter.

Camden National Background Information
(This description is provided by the company.)

Camden National Corporation is the largest publicly traded bank holding company in Northern New England with $4.4 billion in assets and 650 employees. Camden National Bank, its subsidiary, is a full-service community bank founded in 1875 in Camden, Maine. Dedicated to customers at every stage of their financial journey, the bank offers the latest in digital banking, complemented by personalized service with 61 banking centers, 24/7 live phone support, 71 ATMs, and additional lending offices in New Hampshire and Massachusetts. For the past two years, Camden National Bank was named "Customer Experience Leader in U.S. Retail Banking" by Greenwich Associates, and in 2019, it was the only New England based organization included in Sandler O'Neill's "Bank & Thrift Sm-All Star" list of high-performing financial institutions. The Finance Authority of Maine has awarded Camden National Bank as "Lender at Work for Maine" for ten years. Comprehensive wealth management, investment, and financial planning services are delivered by Camden National Wealth Management.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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