Camden National (NASDAQ:CAC) Lowered to Hold at BidaskClub

Camden National (NASDAQ:CAC) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Thursday, November 9th.

Separately, Keefe, Bruyette & Woods lowered shares of Camden National from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 1st.

Camden National (NASDAQ:CAC) traded up $1.98 during mid-day trading on Thursday, hitting $45.75. 53,402 shares of the stock traded hands, compared to its average volume of 41,188. The firm has a market capitalization of $684.64, a price-to-earnings ratio of 15.82 and a beta of 0.79. Camden National has a twelve month low of $37.10 and a twelve month high of $45.92. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.17.

In other Camden National news, Director John W. Holmes purchased 1,000 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was acquired at an average cost of $38.95 per share, with a total value of $38,950.00. Following the acquisition, the director now owns 19,756 shares of the company’s stock, valued at approximately $769,496.20. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Carl John Soderberg purchased 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was acquired at an average cost of $38.46 per share, with a total value of $115,380.00. Following the completion of the acquisition, the director now directly owns 59,323 shares in the company, valued at approximately $2,281,562.58. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 5,000 shares of company stock worth $192,900. 2.34% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in Camden National by 3.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 701,020 shares of the financial services provider’s stock valued at $30,593,000 after purchasing an additional 23,161 shares during the period. Vanguard Group Inc. boosted its stake in Camden National by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 658,842 shares of the financial services provider’s stock valued at $28,271,000 after purchasing an additional 18,271 shares during the period. LSV Asset Management boosted its stake in Camden National by 41.7% during the 2nd quarter. LSV Asset Management now owns 658,688 shares of the financial services provider’s stock valued at $28,264,000 after purchasing an additional 193,979 shares during the period. Renaissance Technologies LLC boosted its stake in Camden National by 11.8% during the 2nd quarter. Renaissance Technologies LLC now owns 396,149 shares of the financial services provider’s stock valued at $16,999,000 after purchasing an additional 41,700 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Camden National by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 290,469 shares of the financial services provider’s stock valued at $12,464,000 after purchasing an additional 9,879 shares during the period. 63.42% of the stock is owned by hedge funds and other institutional investors.

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Camden National Company Profile

Camden National Corporation is a bank holding company. The Company is a diversified financial services provider. The primary business of the Company and its subsidiary, Camden National Bank (the Bank), is to attract deposits from, and to extend loans to, consumer, institutional, municipal, non-profit and commercial customers.

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