Camden National (CAC) Stock Rating Upgraded by ValuEngine

Camden National (NASDAQ:CAC) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Monday, February 4th.

Several other equities research analysts have also recently weighed in on the company. BidaskClub upgraded Camden National from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Zacks Investment Research raised Camden National from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Thursday, November 1st.

NASDAQ CAC traded up $0.26 during trading on Monday, reaching $45.11. The company’s stock had a trading volume of 40,235 shares, compared to its average volume of 24,979. Camden National has a one year low of $33.49 and a one year high of $47.86. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $712.55 million, a P/E ratio of 13.31 and a beta of 0.79.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, January 29th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. Camden National had a return on equity of 12.93% and a net margin of 28.00%. The firm had revenue of $41.07 million during the quarter, compared to analysts’ expectations of $40.30 million. As a group, research analysts anticipate that Camden National will post 3.55 EPS for the current fiscal year.

In related news, Director Carl John Soderberg acquired 3,000 shares of Camden National stock in a transaction that occurred on Tuesday, December 11th. The stock was bought at an average price of $36.71 per share, with a total value of $110,130.00. Following the transaction, the director now directly owns 64,393 shares in the company, valued at $2,363,867.03. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joanne T. Campbell sold 2,923 shares of the firm’s stock in a transaction that occurred on Monday, December 10th. The shares were sold at an average price of $36.27, for a total value of $106,017.21. Following the transaction, the executive vice president now directly owns 20,914 shares of the company’s stock, valued at approximately $758,550.78. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc boosted its stake in shares of Camden National by 11.3% in the 4th quarter. Legal & General Group Plc now owns 2,840 shares of the financial services provider’s stock worth $102,000 after buying an additional 288 shares during the last quarter. Bowling Portfolio Management LLC boosted its stake in shares of Camden National by 2.0% in the 4th quarter. Bowling Portfolio Management LLC now owns 26,161 shares of the financial services provider’s stock worth $941,000 after buying an additional 514 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Camden National by 17.5% in the 4th quarter. Citigroup Inc. now owns 4,999 shares of the financial services provider’s stock worth $180,000 after buying an additional 743 shares during the last quarter. Walthausen & Co. LLC boosted its stake in shares of Camden National by 0.8% in the 4th quarter. Walthausen & Co. LLC now owns 155,091 shares of the financial services provider’s stock worth $5,579,000 after buying an additional 1,230 shares during the last quarter. Finally, Putnam FL Investment Management Co. boosted its stake in shares of Camden National by 18.2% in the 4th quarter. Putnam FL Investment Management Co. now owns 9,510 shares of the financial services provider’s stock worth $342,000 after buying an additional 1,465 shares during the last quarter. 66.91% of the stock is owned by institutional investors.

Camden National Company Profile

Camden National Corporation operates as the holding company for Camden National Bank that provides commercial and consumer banking products and services to consumer, institutional, municipal, non-profit, and commercial customers. It offers various deposit products, including demand, checking, saving, and money market accounts; and time deposits.

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