StockNews.com Lowers Camden National (NASDAQ:CAC) to Sell

Camden National (NASDAQ:CAC - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a report released on Friday.

Camden National Price Performance

Camden National stock traded up $1.35 during trading hours on Friday, hitting $30.06. The stock had a trading volume of 41,103 shares, compared to its average volume of 43,926. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market capitalization of $439.75 million, a price-to-earnings ratio of 10.03 and a beta of 0.74. Camden National has a 1-year low of $26.52 and a 1-year high of $39.70. The stock's fifty day moving average is $31.69 and its two-hundred day moving average is $33.02.

Camden National (NASDAQ:CAC - Get Free Report) last posted its earnings results on Tuesday, January 30th. The financial services provider reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. Camden National had a return on equity of 10.90% and a net margin of 16.86%. The company had revenue of $65.78 million for the quarter, compared to analyst estimates of $42.75 million. During the same quarter in the prior year, the company earned $1.05 earnings per share. As a group, analysts predict that Camden National will post 3.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Camden National

Several large investors have recently added to or reduced their stakes in CAC. Raymond James & Associates lifted its position in Camden National by 5.9% during the first quarter. Raymond James & Associates now owns 45,879 shares of the financial services provider's stock worth $2,158,000 after buying an additional 2,567 shares during the period. American Century Companies Inc. lifted its position in Camden National by 20.4% during the first quarter. American Century Companies Inc. now owns 18,475 shares of the financial services provider's stock worth $869,000 after buying an additional 3,130 shares during the period. HighTower Advisors LLC lifted its position in Camden National by 1.8% during the first quarter. HighTower Advisors LLC now owns 17,250 shares of the financial services provider's stock worth $812,000 after buying an additional 300 shares during the period. MetLife Investment Management LLC lifted its position in Camden National by 20.9% during the first quarter. MetLife Investment Management LLC now owns 7,289 shares of the financial services provider's stock worth $343,000 after buying an additional 1,258 shares during the period. Finally, BlackRock Inc. lifted its position in Camden National by 1.6% during the first quarter. BlackRock Inc. now owns 1,207,144 shares of the financial services provider's stock worth $56,784,000 after buying an additional 18,448 shares during the period. 77.41% of the stock is currently owned by hedge funds and other institutional investors.

Camden National Company Profile

Camden National Corporation operates as the bank holding company for Camden National Bank that provides various commercial and consumer banking products and services for consumer, institutional, municipal, non-profit, and commercial customers in Maine, New Hampshire, and Massachusetts. The company accepts checking, savings, time, and brokered deposits, as well as deposits with the certificate of deposit account registry system.