Camden National Corporation (CAC) Upgraded by BidaskClub to Sell
BidaskClub upgraded shares of Camden National Corporation (NASDAQ:CAC) from a strong sell rating to a sell rating in a research note released on Friday morning.
Separately, Keefe, Bruyette & Woods restated a buy rating and issued a $48.00 price objective on shares of Camden National Corporation in a research note on Friday, June 2nd.
Camden National Corporation (NASDAQ:CAC) traded up 1.83% during midday 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 company has a 50-day moving average of $39.61 and a 200-day moving average of $41.68. The stock has a market cap of $620.64 million, a PE ratio of 14.88 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 (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 firm had revenue of $38.51 million during the quarter. On average, equities research analysts anticipate that Camden National Corporation will post $2.68 earnings per share for the current year.
In related news, Director Carl John Soderberg purchased 3,000 shares of Camden National Corporation stock in a transaction that occurred on Tuesday, September 5th. The stock was bought at an average cost of $38.46 per share, for a total transaction of $115,380.00. Following the completion of the transaction, the director now owns 59,323 shares in the company, valued at $2,281,562.58. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Holmes purchased 1,000 shares of Camden National Corporation stock in a transaction that occurred on Monday, September 11th. The shares were bought at an average price of $38.95 per share, with a total value of $38,950.00. Following the completion of the transaction, the director now owns 19,756 shares of the company’s stock, valued at approximately $769,496.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 5,000 shares of company stock valued at $192,900. Company insiders own 2.34% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Oxford Asset Management purchased a new position in Camden National Corporation during the first quarter valued at approximately $653,000. Prudential Financial Inc. raised its position in Camden National Corporation by 46.7% during the first quarter. Prudential Financial Inc. now owns 90,808 shares of the financial services provider’s stock valued at $3,999,000 after acquiring an additional 28,900 shares in the last quarter. LSV Asset Management raised 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 acquiring an additional 193,979 shares in the last quarter. Rothschild Asset Management Inc. purchased a new position in Camden National Corporation during the first quarter valued at approximately $871,000. Finally, Renaissance Technologies LLC raised its position in Camden National Corporation by 7.8% during the first quarter. Renaissance Technologies LLC now owns 354,449 shares of the financial services provider’s stock valued at $15,610,000 after acquiring an additional 25,749 shares in the last quarter. Institutional investors 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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