Camden National (NASDAQ:CAC) Rating Increased to Hold at StockNews.com

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

Separately, TheStreet upgraded Camden National from a “c+” rating to a “b” rating in a research report on Wednesday, December 13th.

Camden National Stock Down 2.6 %

NASDAQ:CAC opened at $29.31 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a 50-day simple moving average of $32.09 and a 200 day simple moving average of $33.00. Camden National has a one year low of $26.52 and a one year high of $39.70. The company has a market capitalization of $428.81 million, a price-to-earnings ratio of 9.87 and a beta of 0.74.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, January 30th. The financial services provider reported $0.85 EPS for the quarter, meeting analysts’ consensus estimates of $0.85. The company had revenue of $65.78 million during the quarter, compared to the consensus estimate of $42.75 million. Camden National had a return on equity of 10.90% and a net margin of 16.86%. During the same period in the previous year, the firm posted $1.05 earnings per share. Sell-side analysts predict that Camden National will post 3.08 EPS for the current fiscal year.

Institutional Trading of Camden National

Several large investors have recently added to or reduced their stakes in CAC. PNC Financial Services Group Inc. grew its holdings in shares of Camden National by 201.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,243 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 831 shares in the last quarter. Signaturefd LLC boosted its holdings in Camden National by 147.1% in the fourth quarter. Signaturefd LLC now owns 1,248 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 743 shares in the last quarter. Ensign Peak Advisors Inc bought a new stake in Camden National during the third quarter valued at about $54,000. Great West Life Assurance Co. Can boosted its holdings in Camden National by 36.0% during the first quarter. Great West Life Assurance Co. Can now owns 1,493 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 395 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in Camden National by 378.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,872 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 2,272 shares during the period. 77.41% of the stock is owned by institutional investors and hedge funds.

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.