BidaskClub Downgrades Camden National (NASDAQ:CAC) to Sell

Camden National (NASDAQ:CAC) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, January 4th.

Separately, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $48.00 price target on shares of Camden National in a report on Friday, December 22nd.

Shares of Camden National (CAC) opened at $43.62 on Thursday. The firm has a market cap of $676.81, a price-to-earnings ratio of 16.04 and a beta of 0.80. Camden National has a fifty-two week low of $37.10 and a fifty-two week high of $47.41. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.17.

In other Camden National news, EVP Edmund M. Hayden sold 2,340 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $45.56, for a total transaction of $106,610.40. Following the transaction, the executive vice president now directly owns 7,958 shares in the company, valued at approximately $362,566.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joanne T. Campbell sold 2,271 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $44.05, for a total transaction of $100,037.55. Following the transaction, the executive vice president now owns 17,916 shares in the company, valued at $789,199.80. The disclosure for this sale can be found here. 2.34% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in Camden National by 3.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 701,020 shares of the financial services provider’s stock valued at $30,593,000 after acquiring an additional 23,161 shares during the last quarter. Vanguard Group Inc. boosted its stake in Camden National by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 658,842 shares of the financial services provider’s stock valued at $28,271,000 after acquiring an additional 18,271 shares during the last quarter. LSV Asset Management boosted its stake in Camden National by 41.7% during the 2nd quarter. LSV Asset Management now owns 658,688 shares of the financial services provider’s stock valued at $28,264,000 after acquiring an additional 193,979 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Camden National by 11.8% during the 2nd quarter. Renaissance Technologies LLC now owns 396,149 shares of the financial services provider’s stock valued at $16,999,000 after acquiring an additional 41,700 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Camden National by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 290,469 shares of the financial services provider’s stock valued at $12,464,000 after acquiring an additional 9,879 shares during the last quarter. Hedge funds and other institutional investors own 63.44% of the company’s stock.

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Camden National Company Profile

Camden National Corporation is a bank holding company. The Company is a diversified financial services provider. The primary business of the Company and its subsidiary, Camden National Bank (the Bank), is to attract deposits from, and to extend loans to, consumer, institutional, municipal, non-profit and commercial customers.

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