Camden National Corporation (CAC) Lowered to “Strong Sell” at BidaskClub
Camden National Corporation (NASDAQ:CAC) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Friday.
Separately, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $48.00 price objective on shares of Camden National Corporation in a report on Friday, June 2nd.
Camden National Corporation (CAC) traded up 3.19% during midday trading on Friday, hitting $38.52. 27,757 shares of the stock were exchanged. Camden National Corporation has a 12-month low of $29.49 and a 12-month high of $45.43. The firm has a 50 day moving average of $40.04 and a 200-day moving average of $41.81. The stock has a market cap of $597.52 million, a price-to-earnings ratio of 14.33 and a beta of 0.79.
Camden National Corporation (NASDAQ:CAC) last announced its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The company had revenue of $38.51 million for the quarter. Camden National Corporation had a return on equity of 10.59% and a net margin of 24.65%. On average, equities analysts expect that Camden National Corporation will post $2.68 earnings per share for the current year.
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In other Camden National Corporation news, Director John W. Holmes purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were purchased at an average price of $38.57 per share, for a total transaction of $38,570.00. Following the completion of the acquisition, the director now owns 18,356 shares of the company’s stock, valued at approximately $707,990.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carl John Soderberg purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was acquired at an average price of $38.46 per share, for a total transaction of $115,380.00. Following the acquisition, the director now directly owns 59,323 shares of the company’s stock, valued at approximately $2,281,562.58. The disclosure for this purchase can be found here. Corporate insiders own 2.34% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Oxford Asset Management purchased a new position in Camden National Corporation in the first quarter valued at approximately $653,000. Prudential Financial Inc. raised its holdings in Camden National Corporation by 46.7% in the first quarter. Prudential Financial Inc. now owns 90,808 shares of the financial services provider’s stock valued at $3,999,000 after buying an additional 28,900 shares during the period. Rothschild Asset Management Inc. purchased a new position in Camden National Corporation in the first quarter valued at approximately $871,000. Renaissance Technologies LLC raised its holdings in Camden National Corporation by 7.8% in the first quarter. Renaissance Technologies LLC now owns 354,449 shares of the financial services provider’s stock valued at $15,610,000 after buying an additional 25,749 shares during the period. Finally, American International Group Inc. raised its holdings in Camden National Corporation by 7.1% in the first quarter. American International Group Inc. now owns 9,398 shares of the financial services provider’s stock valued at $414,000 after buying an additional 619 shares during the period. Hedge funds and other institutional investors own 64.72% of the company’s stock.
Camden National Corporation Company Profile
Camden National Corporation is a bank holding company. The Company is a diversified financial services provider. The primary business of the Company and its subsidiary, Camden National Bank (the Bank), is to attract deposits from, and to extend loans to, consumer, institutional, municipal, non-profit and commercial customers.
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