Stock Mover of the Day: Is Buying 52-Week Stock Like Camden National Corporation a Winning Strategy?

Stock Mover of the Day: Is Buying 52 Week Stock Like Camden National Corporation a Winning Strategy?

The stock of Camden National Corporation (NASDAQ:CAC) hit a new 52-week high and has $52.90 target or 52.00% above today’s $34.80 share price. The 7 months bullish chart indicates low risk for the $536.70M company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $52.90 price target is reached, the company will be worth $279.08M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 53,829 shares traded hands. Camden National Corporation (NASDAQ:CAC) has risen 21.58% since April 7, 2016 and is uptrending. It has outperformed by 16.80% the S&P500.

Camden National Corporation (NASDAQ:CAC) Ratings Coverage

Out of 2 analysts covering Camden National Corp. (NASDAQ:CAC), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Camden National Corp. has been the topic of 4 analyst reports since September 14, 2015 according to StockzIntelligence Inc. Keefe Bruyette & Woods initiated Camden National Corporation (NASDAQ:CAC) rating on Monday, September 14. Keefe Bruyette & Woods has “Outperform” rating and $47 price target. The rating was initiated by Piper Jaffray with “Overweight” on Wednesday, September 16. The rating was maintained by Piper Jaffray with “Overweight” on Friday, December 4.

According to Zacks Investment Research, “Camden National Corporation is a multi-bank, financial institution holding company. Products services are available directly and indirectly through its subsidiaries, Camden National Bank, UnitedKingfield Bank, Acadia Trust, N.A, and Trust Company of Maine, Inc.”

Insitutional Activity: The institutional sentiment increased to 2.55 in 2016 Q2. Its up 0.93, from 1.62 in 2016Q1. The ratio is positive, as 7 funds sold all Camden National Corporation shares owned while 13 reduced positions. 5 funds bought stakes while 46 increased positions. They now own 5.24 million shares or 13.15% less from 6.03 million shares in 2016Q1.
Loring Wolcott And Coolidge Fiduciary Advisors Ltd Liability Partnership Ma owns 400 shares or 0% of their US portfolio. California Pub Employees Retirement Systems holds 22,900 shares or 0% of its portfolio. Cap Guardian, a California-based fund reported 15,500 shares. The Vermont-based Clean Yield has invested 0.97% in Camden National Corporation (NASDAQ:CAC). Bnp Paribas Arbitrage last reported 0% of its portfolio in the stock. Northern Trust holds 0% or 110,923 shares in its portfolio. Piermont Capital last reported 0.33% of its portfolio in the stock. Vanguard Group has 0% invested in the company for 345,468 shares. Valley Natl Advisers last reported 0% of its portfolio in the stock. Empirical Limited Liability Company has 0.4% invested in the company for 36,713 shares. Blackrock Advisors Limited Liability Corp holds 5,559 shares or 0% of its portfolio. Pnc Fincl Group Inc owns 4,463 shares or 0% of their US portfolio. The Illinois-based First Trust L P has invested 0% in Camden National Corporation (NASDAQ:CAC). Moreover, Bessemer has 0% invested in Camden National Corporation (NASDAQ:CAC) for 18,973 shares. D E Shaw And Inc has invested 0% of its portfolio in Camden National Corporation (NASDAQ:CAC).

Insider Transactions: Since May 24, 2016, the stock had 1 insider buy, and 0 insider sales for $10,776 net activity. On Tuesday, May 24 Nightingale Timothy P bought $10,776 worth of the stock or 333 shares.

More notable recent Camden National Corporation (NASDAQ:CAC) news were published by: Prnewswire.com which released: “Camden National Corporation’s Board Announces Three-for-Two Stock Split” on August 30, 2016, also Marketwatch.com with their article: “/quotes/zigman/3870025/realtime” published on April 18, 2011, Prnewswire.com published: “Camden National Corporation Reports A 13% Increase In Third Quarter 2016 Net …” on October 25, 2016. More interesting news about Camden National Corporation (NASDAQ:CAC) were released by: Prnewswire.com and their article: “Camden National Corporation and Camden National Bank Elect David Ott and Carl …” published on October 14, 2015 as well as Prnewswire.com‘s news article titled: “Camden National Corporation appoints Deborah Jordan Chief Operating Officer …” with publication date: December 19, 2014.

CAC Company Profile

Camden National Corporation, incorporated on March 21, 1984, is a bank holding company. The Firm is a diversified financial services provider. The primary business of the Company and its subsidiaries is to attract deposits from, and to extend loans to, consumer, institutional, municipal, non-profit and commercial customers. The Firm offers commercial and consumer banking services and products through its subsidiary, Camden National Bank (the Bank), and brokerage and insurance services through Camden Financial Consultants (Camden Financial), a division of the Bank. The Firm also offers investment management and fiduciary services through its subsidiary, Acadia Trust, N.A. (Acadia Trust), a federally-regulated, non-depository trust firm headquartered in Portland, Maine.

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