Today’s Stock On Watch: Does Camden National Corporation Have More Gas After Making 52-Week High?

Today's Stock On Watch: Does Camden National Corporation Have More Gas After Making 52 Week High?

The stock of Camden National Corporation (NASDAQ:CAC) hit a new 52-week high and has $42.49 target or 9.00% above today’s $38.98 share price. The 5 months bullish chart indicates low risk for the $611.96M company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $42.49 price target is reached, the company will be worth $55.08 million 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 21,830 shares traded hands. Camden National Corporation (NASDAQ:CAC) has risen 35.22% since April 21, 2016 and is uptrending. It has outperformed by 29.89% the S&P500.

Analysts await Camden National Corporation (NASDAQ:CAC) to report earnings on February, 2. They expect $0.64 earnings per share, up 23.08% or $0.12 from last year’s $0.52 per share. CAC’s profit will be $10.05 million for 15.23 P/E if the $0.64 EPS becomes a reality. After $0.70 actual earnings per share reported by Camden National Corporation for the previous quarter, Wall Street now forecasts -8.57% negative EPS growth.

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 stock has “Overweight” rating given by Piper Jaffray on Wednesday, September 16. Keefe Bruyette & Woods initiated Camden National Corporation (NASDAQ:CAC) on Monday, September 14 with “Outperform” rating. Piper Jaffray maintained Camden National Corporation (NASDAQ:CAC) on Friday, December 4 with “Overweight” rating.

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 2016 Q2. Its up 0.10, from 2.55 in 2016Q1. The ratio increased, 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.
Fmr Ltd Liability Corp owns 889,470 shares or 0.01% of their US portfolio. Geode Management Lc reported 56,079 shares or 0% of all its holdings. Ny State Common Retirement Fund last reported 10,500 shares in the company. Fsi Ltd Limited Liability Company holds 71,969 shares or 1.85% of its portfolio. Legal And General Group Inc Plc has invested 0% of its portfolio in Camden National Corporation (NASDAQ:CAC). Blackrock Gru accumulated 3,681 shares or 0% of the stock. Hightower Limited Liability Corporation has invested 0.01% of its portfolio in Camden National Corporation (NASDAQ:CAC). Rhumbline Advisers has invested 0% of its portfolio in Camden National Corporation (NASDAQ:CAC). Northern Trust, a Illinois-based fund reported 110,923 shares. Susquehanna Intl Gru Llp accumulated 0% or 5,600 shares. The California-based Blackrock Fund Advisors has invested 0% in Camden National Corporation (NASDAQ:CAC). Delphi Ma has 0.46% invested in the company for 17,068 shares. Vanguard Grp Inc has invested 0% of its portfolio in Camden National Corporation (NASDAQ:CAC). Dimensional Fund Advsr L P has 0.01% invested in the company for 359,295 shares. Price T Rowe Assocs Md reported 5,720 shares or 0% of all its holdings.

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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