Camden National (NASDAQ:CAC) Cut to Sell at StockNews.com

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

Camden National Stock Performance

NASDAQ:CAC traded up $0.02 during mid-day trading on Friday, hitting $32.32. 25,617 shares of the stock were exchanged, compared to its average volume of 40,901. The firm’s 50-day simple moving average is $31.51 and its 200 day simple moving average is $33.69. The stock has a market capitalization of $472.20 million, a price-to-earnings ratio of 10.74 and a beta of 0.74. Camden National has a fifty-two week low of $26.52 and a fifty-two week high of $39.70. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.81.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.14. The firm had revenue of $41.60 million for the quarter, compared to analyst estimates of $41.72 million. Camden National had a return on equity of 10.66% and a net margin of 16.56%. As a group, equities analysts anticipate that Camden National will post 3.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Camden National

Institutional investors and hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC grew its position in shares of Camden National by 364.7% during the 4th quarter. Quadrant Capital Group LLC now owns 4,545 shares of the financial services provider’s stock worth $171,000 after buying an additional 3,567 shares during the period. FMR LLC raised its holdings in shares of Camden National by 6.0% during the third quarter. FMR LLC now owns 1,302,357 shares of the financial services provider’s stock valued at $36,753,000 after purchasing an additional 73,600 shares during the period. Swiss National Bank boosted its position in shares of Camden National by 1.9% during the 3rd quarter. Swiss National Bank now owns 32,061 shares of the financial services provider’s stock worth $905,000 after purchasing an additional 600 shares in the last quarter. Signaturefd LLC grew its stake in shares of Camden National by 147.1% in the 4th quarter. Signaturefd LLC now owns 1,248 shares of the financial services provider’s stock valued at $47,000 after buying an additional 743 shares during the period. Finally, Bar Harbor Wealth Management bought a new stake in Camden National in the 4th quarter valued at about $352,000. Institutional investors and hedge funds 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.