Camden National (CAC) Stock Rating Lowered by BidaskClub

Camden National (NASDAQ:CAC) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday.

Separately, Keefe, Bruyette & Woods lowered shares of Camden National from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 1st.

Camden National (NASDAQ CAC) traded down $0.40 during trading on Thursday, reaching $42.27. 30,221 shares of the company were exchanged, compared to its average volume of 29,890. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.17. The company has a market cap of $662.07, a price-to-earnings ratio of 15.54 and a beta of 0.79. Camden National has a twelve month low of $37.10 and a twelve month high of $47.41.

Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, October 31st. The financial services provider reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.03. Camden National had a net margin of 24.70% and a return on equity of 10.56%. research analysts anticipate that Camden National will post 2.68 earnings per share for the current year.

In other news, EVP Joanne T. Campbell sold 2,271 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $44.05, for a total value of $100,037.55. Following the transaction, the executive vice president now owns 17,916 shares of the company’s stock, valued at approximately $789,199.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Edmund M. Hayden sold 2,340 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $45.56, for a total transaction of $106,610.40. Following the completion of the transaction, the executive vice president now directly owns 7,958 shares in the company, valued at approximately $362,566.48. The disclosure for this sale can be found here. Corporate insiders own 2.34% of the company’s stock.

Several large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of Camden National by 3.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 701,020 shares of the financial services provider’s stock worth $30,593,000 after buying an additional 23,161 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Camden National by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 658,842 shares of the financial services provider’s stock worth $28,271,000 after buying an additional 18,271 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Camden National by 11.8% in the 2nd quarter. Renaissance Technologies LLC now owns 396,149 shares of the financial services provider’s stock worth $16,999,000 after buying an additional 41,700 shares during the last quarter. State Street Corp increased its holdings in shares of Camden National by 5.3% in the 2nd quarter. State Street Corp now owns 290,238 shares of the financial services provider’s stock worth $12,456,000 after buying an additional 14,565 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Camden National by 7.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 201,522 shares of the financial services provider’s stock worth $8,647,000 after buying an additional 13,265 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

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Camden National 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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