Price Don’t Lie: Could Camden National Corporation Go Down After Making 52-Week High?

Price Don't Lie: Could Camden National Corporation Go Down After Making 52 Week High?

The stock of Camden National Corporation (NASDAQ:CAC) hit a new 52-week high and has $42.29 target or 9.00% above today’s $38.80 share price. The 7 months bullish chart indicates low risk for the $592.04M company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $42.29 price target is reached, the company will be worth $53.28 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 18,558 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 EPS, up 23.08% or $0.12 from last year’s $0.52 per share. CAC’s profit will be $9.77 million for 15.16 P/E if the $0.64 EPS becomes a reality. After $0.70 actual EPS 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. $54 is the highest target while $47 is the lowest. The $51.50 average target is 32.73% above today’s ($38.8) stock price. Camden National Corp. has been the topic of 4 analyst reports since September 14, 2015 according to StockzIntelligence Inc. Keefe Bruyette & Woods initiated the shares of CAC in a report on Monday, September 14 with “Outperform” rating. Piper Jaffray maintained it with “Overweight” rating and $54 target price in Friday, December 4 report. The firm earned “Overweight” rating on Wednesday, September 16 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 2.65 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.
Loring Wolcott & Coolidge Fiduciary Llp Ma accumulated 0% or 400 shares. State Street reported 162,377 shares or 0% of all its holdings. The Ontario – Canada-based Royal Retail Bank Of Canada has invested 0% in Camden National Corporation (NASDAQ:CAC). Bancshares Of New York Mellon has 128,436 shares for 0% of their US portfolio. Rhumbline Advisers accumulated 9,799 shares or 0% of the stock. Credit Suisse Ag reported 19,455 shares or 0% of all its holdings. Schwab Charles Invest Management, a California-based fund reported 29,074 shares. Quantitative Systematic Strategies Limited holds 6,621 shares or 0.13% of its portfolio. The Maine-based Acadia Tru Na has invested 0.87% in Camden National Corporation (NASDAQ:CAC). Financial Bank Of America De has 77,733 shares for 0% of their US portfolio. Clean Yield Gp, a Vermont-based fund reported 53,904 shares. Moreover, Ubs Asset Mngmt Americas Incorporated has 0% invested in Camden National Corporation (NASDAQ:CAC) for 5,302 shares. Morgan Stanley accumulated 0% or 6,089 shares. Blackrock Institutional Trust Communication Na holds 0% of its portfolio in Camden National Corporation (NASDAQ:CAC) for 336,346 shares. Moreover, Susquehanna Intll Group Inc Llp has 0% invested in Camden National Corporation (NASDAQ:CAC) for 5,600 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.

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