Camden National (CAC) Downgraded by ValuEngine

Camden National (NASDAQ:CAC) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Several other research firms have also recently commented on CAC. BidaskClub cut Camden National from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Keefe, Bruyette & Woods cut Camden National from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 1st. Finally, Piper Jaffray Companies boosted their target price on Camden National from $50.50 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd.

Camden National (CAC) traded up $0.85 on Thursday, reaching $42.76. The company had a trading volume of 36,220 shares, compared to its average volume of 29,396. Camden National has a 1 year low of $37.10 and a 1 year high of $47.41. The firm has a market cap of $663.85, a PE ratio of 23.49 and a beta of 0.80. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.79 and a quick ratio of 0.79.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, January 30th. The financial services provider reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.02. Camden National had a return on equity of 10.52% and a net margin of 16.30%. The firm had revenue of $39.50 million during the quarter. equities research analysts anticipate that Camden National will post 3.42 EPS for the current year.

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

Several institutional investors have recently bought and sold shares of CAC. Walthausen & Co. LLC purchased a new stake in shares of Camden National in the 3rd quarter valued at about $2,534,000. Renaissance Technologies LLC lifted 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 valued at $16,999,000 after purchasing an additional 41,700 shares during the last quarter. Dimensional Fund Advisors LP lifted 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 valued at $30,593,000 after purchasing an additional 23,161 shares during the last quarter. Bowling Portfolio Management LLC lifted its holdings in shares of Camden National by 118.9% in the 4th quarter. Bowling Portfolio Management LLC now owns 37,860 shares of the financial services provider’s stock valued at $1,595,000 after purchasing an additional 20,564 shares during the last quarter. Finally, Rothschild Asset Management Inc. lifted its holdings in shares of Camden National by 36.8% in the 3rd quarter. Rothschild Asset Management Inc. now owns 70,242 shares of the financial services provider’s stock valued at $3,065,000 after purchasing an additional 18,900 shares during the last quarter. 63.54% of the stock is owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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