The stock of Camden National Corporation (NASDAQ:CAC) reached all time high today, Nov, 14 and still has $46.60 target or 24.00% above today’s $37.58 share price. This indicates more upside for the $598.73 million company. This technical setup was reported by Barchart.com. If the $46.60 PT is reached, the company will be worth $143.70M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 44,552 shares traded hands. Camden National Corporation (NASDAQ:CAC) has risen 29.90% since April 12, 2016 and is uptrending. It has outperformed by 24.92% 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. Piper Jaffray maintained Camden National Corporation (NASDAQ:CAC) on Friday, December 4 with “Overweight” rating. The stock has “Overweight” rating given by Piper Jaffray on Wednesday, September 16. On Monday, September 14 the stock rating was initiated by Keefe Bruyette & Woods with “Outperform”.
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 Q2 2016. Its up 0.93, from 1.62 in 2016Q1. The ratio improved, 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.
Blackrock Investment Mngmt Lc accumulated 0% or 43,180 shares. Hm Payson And Company has 35,050 shares for 0.07% of their US portfolio. Us Financial Bank De accumulated 121 shares or 0% of the stock. Deutsche Bancshares Ag has 62,641 shares for 0% of their US portfolio. Coastline Trust last reported 0.13% of its portfolio in the stock. Moreover, California Employees Retirement System has 0% invested in Camden National Corporation (NASDAQ:CAC) for 22,900 shares. Moreover, Prudential Incorporated has 0% invested in Camden National Corporation (NASDAQ:CAC) for 24,116 shares. The Vermont-based Clean Yield has invested 0.97% in Camden National Corporation (NASDAQ:CAC). Royal Comml Bank Of Canada has 0% invested in the company for 7,203 shares. Delphi Mgmt Ma has 0.46% invested in the company for 17,068 shares. Teachers Advsr, a New York-based fund reported 19,191 shares. Panagora Asset Mgmt, a Massachusetts-based fund reported 1,152 shares. First Advisors Lp last reported 13,908 shares in the company. Gp Inc has invested 0% of its portfolio in Camden National Corporation (NASDAQ:CAC). The California-based Wells Fargo And Mn has invested 0% in Camden National Corporation (NASDAQ:CAC).
Insider Transactions: Since May 24, 2016, the stock had 1 insider purchase, and 0 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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