Camden National (NASDAQ:CAC) Downgraded by StockNews.com to Sell

Camden National (NASDAQ:CAC) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

Camden National Trading Up 0.2 %

Shares of Camden National stock opened at $28.71 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.09. Camden National has a 12-month low of $26.52 and a 12-month high of $39.70. The firm has a market capitalization of $420.03 million, a price-to-earnings ratio of 9.67 and a beta of 0.74. The firm’s 50 day simple moving average is $31.69 and its two-hundred day simple moving average is $33.02.

Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $65.78 million for the quarter, compared to the consensus estimate of $42.75 million. Camden National had a net margin of 16.86% and a return on equity of 10.90%. During the same period in the prior year, the firm earned $1.05 EPS. Analysts predict that Camden National will post 3.08 EPS for the current year.

Institutional Trading of Camden National

A number of hedge funds have recently added to or reduced their stakes in CAC. Raymond James & Associates boosted its holdings in Camden National by 5.9% during the first quarter. Raymond James & Associates now owns 45,879 shares of the financial services provider’s stock worth $2,158,000 after buying an additional 2,567 shares in the last quarter. American Century Companies Inc. lifted its holdings in Camden National by 20.4% during the first quarter. American Century Companies Inc. now owns 18,475 shares of the financial services provider’s stock valued at $869,000 after purchasing an additional 3,130 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Camden National by 1.8% during the first quarter. HighTower Advisors LLC now owns 17,250 shares of the financial services provider’s stock valued at $812,000 after purchasing an additional 300 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in Camden National by 20.9% during the first quarter. MetLife Investment Management LLC now owns 7,289 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 1,258 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Camden National by 1.6% during the first quarter. BlackRock Inc. now owns 1,207,144 shares of the financial services provider’s stock valued at $56,784,000 after purchasing an additional 18,448 shares in the last quarter. 77.41% of the stock is owned by hedge funds and other institutional investors.

Camden National Company Profile

Camden National Corporation operates as the bank holding company for Camden National Bank that provides various commercial and consumer banking products and services for consumer, institutional, municipal, non-profit, and commercial customers in Maine, New Hampshire, and Massachusetts. The company accepts checking, savings, time, and brokered deposits, as well as deposits with the certificate of deposit account registry system.