Camden National (NASDAQ:CAC) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
A number of other analysts also recently weighed in on CAC. Zacks Investment Research upgraded Camden National from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Piper Jaffray Companies restated a “buy” rating and issued a $51.50 price target on shares of Camden National in a research note on Friday, August 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $49.50.
Shares of CAC stock opened at $43.01 on Friday. Camden National has a twelve month low of $40.25 and a twelve month high of $47.86. The company has a market capitalization of $675.08 million, a price-to-earnings ratio of 15.75 and a beta of 0.62. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.17.
Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, July 31st. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.04). Camden National had a net margin of 18.39% and a return on equity of 11.64%. The company had revenue of $38.98 million during the quarter, compared to analysts’ expectations of $39.40 million. equities analysts expect that Camden National will post 3.3 EPS for the current year.
Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Camden National during the second quarter worth $116,000. Atlantic Trust LLC acquired a new position in Camden National during the second quarter worth $156,000. Millennium Management LLC acquired a new position in Camden National during the first quarter worth $205,000. People s United Financial Inc. acquired a new position in Camden National during the second quarter worth $210,000. Finally, Zebra Capital Management LLC acquired a new position in Camden National during the second quarter worth $215,000. 63.29% of the stock is owned by hedge funds and other 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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