Camden National (NASDAQ:CAC) Stock Price Passes Below 200-Day Moving Average of $33.31

Shares of Camden National Co. (NASDAQ:CAC) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $33.31 and traded as low as $31.30. Camden National shares last traded at $31.31, with a volume of 31,298 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Camden National from a “sell” rating to a “hold” rating in a research report on Saturday, June 1st.

Camden National Stock Down 1.3 %

The business has a fifty day moving average of $31.76 and a 200-day moving average of $33.31. The stock has a market cap of $457.35 million, a PE ratio of 10.40 and a beta of 0.75. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.81 and a quick ratio of 0.81.

Camden National (NASDAQ:CAC) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.14. The company had revenue of $41.60 million for the quarter, compared to analysts’ expectations of $41.72 million. Camden National had a net margin of 16.56% and a return on equity of 10.66%. Equities research analysts anticipate that Camden National Co. will post 3.13 earnings per share for the current year.

Institutional Investors Weigh In On Camden National

Several institutional investors have recently added to or reduced their stakes in CAC. Quadrant Capital Group LLC lifted its holdings in shares of Camden National by 364.7% in the 4th quarter. Quadrant Capital Group LLC now owns 4,545 shares of the financial services provider’s stock valued at $171,000 after buying an additional 3,567 shares during the period. FMR LLC increased its holdings in Camden National by 6.0% in the third quarter. FMR LLC now owns 1,302,357 shares of the financial services provider’s stock valued at $36,753,000 after buying an additional 73,600 shares in the last quarter. Swiss National Bank raised its position in shares of Camden National by 1.9% in the third quarter. Swiss National Bank now owns 32,061 shares of the financial services provider’s stock worth $905,000 after acquiring an additional 600 shares during the period. Signaturefd LLC boosted its stake in shares of Camden National by 147.1% during the 4th quarter. Signaturefd LLC now owns 1,248 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 743 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Camden National by 12.3% during the 4th quarter. Franklin Resources Inc. now owns 1,236,840 shares of the financial services provider’s stock valued at $46,542,000 after acquiring an additional 135,944 shares during the period. Institutional investors and hedge funds own 77.41% of the company’s stock.

About Camden National

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.