Camden National (NASDAQ:CAC) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of Camden National (NASDAQ:CAC) from a sell rating to a hold rating in a research note released on Tuesday, BidAskClub reports.

Several other analysts have also recently commented on CAC. Raymond James began coverage on Camden National in a report on Tuesday, November 26th. They issued a market perform rating for the company. Zacks Investment Research downgraded shares of Camden National from a hold rating to a sell rating in a research note on Tuesday, August 6th.

Shares of Camden National stock opened at $43.21 on Tuesday. Camden National has a fifty-two week low of $33.49 and a fifty-two week high of $47.25. The business’s fifty day moving average is $43.99 and its two-hundred day moving average is $43.57. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.15. The firm has a market cap of $659.97 million, a PE ratio of 12.07 and a beta of 0.79.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, October 29th. The financial services provider reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.05. Camden National had a return on equity of 12.27% and a net margin of 27.02%. The firm had revenue of $42.66 million during the quarter. Equities research analysts anticipate that Camden National will post 3.59 EPS for the current year.

A number of large investors have recently bought and sold shares of CAC. Amundi Pioneer Asset Management Inc. boosted its position in Camden National by 10.9% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 90,080 shares of the financial services provider’s stock worth $3,758,000 after purchasing an additional 8,825 shares during the period. Aperio Group LLC increased its holdings in shares of Camden National by 40.8% during the second quarter. Aperio Group LLC now owns 8,465 shares of the financial services provider’s stock valued at $388,000 after purchasing an additional 2,451 shares during the period. Municipal Employees Retirement System of Michigan bought a new stake in shares of Camden National during the second quarter valued at about $456,000. Swiss National Bank raised its stake in shares of Camden National by 2.5% during the second quarter. Swiss National Bank now owns 29,061 shares of the financial services provider’s stock valued at $1,333,000 after purchasing an additional 700 shares in the last quarter. Finally, Chicago Equity Partners LLC acquired a new stake in Camden National in the second quarter worth about $1,008,000. 67.12% of the stock is currently 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, as well as certificates of deposit.

Read More: Cost of Capital Explained

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