The stock of Camden National Corporation (NASDAQ:CAC) reached all time high today, Nov, 21 and still has $50.49 target or 32.00% above today’s $38.25 share price. This indicates more upside for the $597.14 million company. This technical setup was reported by Barchart.com. If the $50.49 PT is reached, the company will be worth $191.08 million 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. The stock decreased 0.57% or $0.22 during the last trading session, hitting $38.25. About 49,099 shares traded hands. Camden National Corporation (NASDAQ:CAC) has risen 32.75% since April 19, 2016 and is uptrending. It has outperformed by 28.89% 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. The rating was maintained by Piper Jaffray with “Overweight” on Friday, December 4. The company was initiated on Wednesday, September 16 by Piper Jaffray. The firm has “Outperform” rating by Keefe Bruyette & Woods given on Monday, September 14.
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 2.65 in Q2 2016. Its up 0.10, from 2.55 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.
State Street last reported 0% of its portfolio in the stock. Fiduciary Tru accumulated 0.01% or 7,266 shares. Zurcher Kantonalbank (Zurich Cantonalbank) owns 246 shares or 0% of their US portfolio. Coastline Trust accumulated 0.13% or 15,795 shares. Ubs Asset Management Americas Inc holds 5,302 shares or 0% of its portfolio. Panagora Asset Mngmt reported 1,152 shares or 0% of all its holdings. Mendon Cap Advsrs accumulated 80,000 shares or 0.35% of the stock. The Delaware-based Blackrock Advsr Ltd Liability Corporation has invested 0% in Camden National Corporation (NASDAQ:CAC). Blackrock Fund Advsrs has 262,046 shares for 0% of their US portfolio. Guardian last reported 15,500 shares in the company. Parametric Associate Lc accumulated 29,319 shares or 0% of the stock. Swiss National Bank & Trust accumulated 0% or 16,574 shares. Piermont Cap reported 30,250 shares or 0.33% of all its holdings. Ameriprise Fincl owns 8,520 shares or 0% of their US portfolio. Blackrock Gru Ltd holds 0% of its portfolio in Camden National Corporation (NASDAQ:CAC) for 3,681 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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