Camden National Corporation (CAC) Upgraded at BidaskClub
Camden National Corporation (NASDAQ:CAC) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Friday.
Separately, Keefe, Bruyette & Woods reissued a “buy” rating and set a $48.00 price target on shares of Camden National Corporation in a report on Friday, June 2nd.
Shares of Camden National Corporation (CAC) traded up 1.83% during mid-day trading on Friday, hitting $40.01. 117,239 shares of the stock traded hands. Camden National Corporation has a 12 month low of $29.49 and a 12 month high of $45.43. The stock has a market cap of $620.64 million, a price-to-earnings ratio of 14.88 and a beta of 0.79. The firm has a 50 day moving average of $39.61 and a 200 day moving average of $41.68.
Camden National Corporation (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.01). Camden National Corporation had a return on equity of 10.59% and a net margin of 24.65%. The firm had revenue of $38.51 million for the quarter. On average, equities analysts expect that Camden National Corporation will post $2.68 EPS for the current fiscal year.
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In related news, Director John W. Holmes acquired 1,000 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were acquired at an average cost of $38.95 per share, with a total value of $38,950.00. Following the completion of the acquisition, the director now directly owns 19,756 shares in the company, valued at approximately $769,496.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carl John Soderberg acquired 3,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were bought at an average cost of $38.46 per share, for a total transaction of $115,380.00. Following the completion of the acquisition, the director now owns 59,323 shares of the company’s stock, valued at $2,281,562.58. The disclosure for this purchase can be found here. Insiders have purchased 5,000 shares of company stock worth $192,900 over the last three months. 2.34% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CAC. BNP Paribas Arbitrage SA lifted its holdings in Camden National Corporation by 479.2% during the second quarter. BNP Paribas Arbitrage SA now owns 2,340 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 1,936 shares in the last quarter. SG Americas Securities LLC purchased a new position in Camden National Corporation during the first quarter valued at $124,000. Atlantic Trust LLC purchased a new position in Camden National Corporation during the second quarter valued at $136,000. Legal & General Group Plc lifted its holdings in Camden National Corporation by 4.2% during the second quarter. Legal & General Group Plc now owns 3,817 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 153 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in Camden National Corporation by 696.7% during the second quarter. Citigroup Inc. now owns 4,772 shares of the financial services provider’s stock valued at $205,000 after purchasing an additional 4,173 shares in the last quarter. 64.72% of the stock is currently owned by institutional investors and hedge funds.
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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