Camden National Corporation (CAC) Rating Increased to Hold at BidaskClub
Camden National Corporation (NASDAQ:CAC) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
Separately, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $48.00 target price on shares of Camden National Corporation in a research report on Friday, June 2nd.
Shares of Camden National Corporation (NASDAQ CAC) traded up 1.93% on Thursday, reaching $42.30. The company had a trading volume of 49,633 shares. Camden National Corporation has a one year low of $29.49 and a one year high of $45.43. The company’s 50-day moving average is $39.57 and its 200-day moving average is $41.63. The company has a market capitalization of $656.16 million, a PE ratio of 15.73 and a beta of 0.79.
Camden National Corporation (NASDAQ:CAC) last announced its earnings results on Tuesday, July 25th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing the 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 company had revenue of $38.51 million during the quarter. Equities research analysts predict that Camden National Corporation will post $2.68 earnings per share for the current year.
In other Camden National Corporation news, Director John W. Holmes purchased 1,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was acquired at an average cost of $38.57 per share, for a total transaction of $38,570.00. Following the completion of the transaction, the director now directly owns 18,356 shares in the company, valued at approximately $707,990.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carl John Soderberg purchased 3,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were acquired at an average price of $38.46 per share, with a total value of $115,380.00. Following the completion of the transaction, 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. Over the last 90 days, insiders have acquired 5,000 shares of company stock valued at $192,900. Company insiders own 2.34% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC boosted its position in Camden National Corporation by 10.8% during the first quarter. FMR LLC now owns 1,399,131 shares of the financial services provider’s stock valued at $61,618,000 after buying an additional 136,242 shares during the period. Dimensional Fund Advisors LP boosted its position in Camden National Corporation by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 677,859 shares of the financial services provider’s stock valued at $29,087,000 after buying an additional 21,880 shares during the period. Vanguard Group Inc. boosted its position in Camden National Corporation by 2.9% during the second quarter. Vanguard Group Inc. now owns 658,842 shares of the financial services provider’s stock valued at $28,271,000 after buying an additional 18,271 shares during the period. LSV Asset Management boosted its position in Camden National Corporation by 41.7% during the second quarter. LSV Asset Management now owns 658,688 shares of the financial services provider’s stock valued at $28,264,000 after buying an additional 193,979 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Camden National Corporation by 11.8% during the second quarter. Renaissance Technologies LLC now owns 396,149 shares of the financial services provider’s stock valued at $16,999,000 after buying an additional 41,700 shares during the period. Institutional investors and hedge funds own 64.72% of the company’s stock.
About Camden National Corporation
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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