Camden National (NASDAQ:CAC) Stock Passes Below 200 Day Moving Average – Should You Sell?

Camden National Corporation (NASDAQ:CAC) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $39.87 and traded as low as $39.47. Camden National shares last traded at $39.52, with a volume of 57,546 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Zacks Research upgraded Camden National to a “hold” rating in a research report on Tuesday, August 12th. Stephens upgraded Camden National from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $49.00 to $44.00 in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Camden National presently has an average rating of “Moderate Buy” and a consensus price target of $48.00.

Camden National Stock Down 0.3%

The company has a 50 day simple moving average of $39.81 and a two-hundred day simple moving average of $39.87. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $668.68 million, a P/E ratio of 12.51 and a beta of 0.67.

Camden National (NASDAQ:CAC) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.23). Camden National had a return on equity of 10.19% and a net margin of 14.77%.The company had revenue of $69.82 million for the quarter, compared to the consensus estimate of $61.04 million. As a group, equities analysts predict that Camden National Corporation will post 4.25 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. HighTower Advisors LLC grew its stake in shares of Camden National by 4.1% during the first quarter. HighTower Advisors LLC now owns 7,811 shares of the financial services provider’s stock valued at $316,000 after buying an additional 311 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Camden National by 4.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,264 shares of the financial services provider’s stock valued at $353,000 after buying an additional 330 shares during the last quarter. CWM LLC grew its stake in shares of Camden National by 65.4% during the first quarter. CWM LLC now owns 837 shares of the financial services provider’s stock valued at $34,000 after buying an additional 331 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its stake in shares of Camden National by 9.6% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 3,825 shares of the financial services provider’s stock valued at $155,000 after buying an additional 335 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Camden National by 15.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,567 shares of the financial services provider’s stock valued at $104,000 after buying an additional 350 shares during the last quarter. Institutional investors own 77.41% of the company’s stock.

About Camden National

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.