The stock of Camden National Corporation (NASDAQ:CAC) hit a new 52-week high and has $52.61 target or 38.00% above today’s $38.12 share price. The 8 months bullish chart indicates low risk for the $592.97M company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $52.61 price target is reached, the company will be worth $225.33 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 28,110 shares traded hands. Camden National Corporation (NASDAQ:CAC) has risen 31.24% since April 15, 2016 and is uptrending. It has outperformed by 26.62% 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. $54 is the highest target while $47 is the lowest. The $51.50 average target is 35.10% above today’s ($38.12) stock price. Camden National Corp. has been the topic of 4 analyst reports since September 14, 2015 according to StockzIntelligence Inc. The stock of Camden National Corporation (NASDAQ:CAC) has “Outperform” rating given on Monday, September 14 by Keefe Bruyette & Woods. The firm earned “Overweight” rating on Wednesday, September 16 by Piper Jaffray. The company was maintained on Friday, December 4 by Piper Jaffray.
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 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.
Piermont Capital Mgmt last reported 30,250 shares in the company. Bridgeway Capital Mngmt Inc last reported 15,453 shares in the company. Kimelman & Baird Ltd accumulated 138,043 shares or 1.06% of the stock. Fsi Lc owns 71,969 shares or 1.85% of their US portfolio. Voya Mngmt accumulated 5,119 shares or 0% of the stock. Basswood Capital Mngmt Lc, a New York-based fund reported 216,840 shares. Metropolitan Life Insurance New York accumulated 7,658 shares or 0% of the stock. Northern Tru owns 110,923 shares or 0% of their US portfolio. The New York-based Williams Jones & Assoc Ltd Liability Co has invested 0.02% in Camden National Corporation (NASDAQ:CAC). Jpmorgan Chase And Company, a New York-based fund reported 69 shares. Delphi Mgmt Inc Ma reported 17,068 shares or 0.46% of all its holdings. Hm Payson, a Maine-based fund reported 35,050 shares. First Tru Advisors Lp accumulated 0% or 13,908 shares. Blackrock Fund Advsr holds 262,046 shares or 0% of its portfolio. Tiaa Cref Inv Management Ltd Liability Co last reported 0% of its portfolio in the stock.
Insider Transactions: Since May 24, 2016, the stock had 1 insider buy, and 0 selling transactions for $10,776 net activity. $10,776 worth of Camden National Corporation (NASDAQ:CAC) shares were bought by Nightingale Timothy P.
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: “Virtual Stock Exchange” 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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