The stock of Camden National Corporation (NASDAQ:CAC) reached all time high today, Nov, 29 and still has $41.09 target or 6.00% above today’s $38.76 share price. This indicates more upside for the $591.43M company. This technical setup was reported by Barchart.com. If the $41.09 PT is reached, the company will be worth $35.49 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. About 30,289 shares traded hands. Camden National Corporation (NASDAQ:CAC) has risen 32.76% since April 26, 2016 and is uptrending. It has outperformed by 27.50% 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 $9.77 million for 15.14 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. Piper Jaffray initiated the stock with “Overweight” rating in Wednesday, September 16 report. On Friday, December 4 the stock rating was maintained by Piper Jaffray with “Overweight”. The stock of Camden National Corporation (NASDAQ:CAC) has “Outperform” rating given on Monday, September 14 by Keefe Bruyette & Woods.
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.
Blackrock accumulated 8,700 shares or 0% of the stock. Deutsche Bankshares Ag accumulated 62,641 shares or 0% of the stock. Swiss State Bank last reported 16,574 shares in the company. Endeavour Advisors has 0.93% invested in the company for 295,387 shares. Williams Jones Assoc Ltd holds 0.02% of its portfolio in Camden National Corporation (NASDAQ:CAC) for 10,000 shares. Us Comml Bank De accumulated 121 shares or 0% of the stock. Blackrock Gru Limited, a United Kingdom-based fund reported 3,681 shares. Delphi Ma accumulated 0.46% or 17,068 shares. Metropolitan Life Co New York reported 7,658 shares or 0% of all its holdings. Rhumbline Advisers owns 9,799 shares or 0% of their US portfolio. Clean Yield Grp has invested 0.97% of its portfolio in Camden National Corporation (NASDAQ:CAC). Cornerstone Cap Mngmt Limited Liability Com last reported 0% of its portfolio in the stock. Virginia Retirement Et Al last reported 0.01% of its portfolio in the stock. Bankshares Of Mellon, a New York-based fund reported 128,436 shares. Savings Bank Of Montreal Can, a Ontario – Canada-based fund reported 57 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 and Camden National Bank Elect David Ott and Carl …” on October 14, 2015. More interesting news about Camden National Corporation (NASDAQ:CAC) were released by: Prnewswire.com and their article: “Camden National Corporation appoints Deborah Jordan Chief Operating Officer …” published on December 19, 2014 as well as Prnewswire.com‘s news article titled: “Camden National Corporation Reports A 13% Increase In Third Quarter 2016 Net …” with publication date: October 25, 2016.
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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.