Camden National Corporation (CAC)’s Trend Up, Especially After Forming a Double Top Chart Pattern

June 12, 2018 - By Louis Casey

Camden National Corporation (NASDAQ:CAC) Logo

Investors sentiment decreased to 0.91 in 2018 Q1. Its down 0.52, from 1.43 in 2017Q4. It turned negative, as 10 investors sold Camden National Corporation shares while 35 reduced holdings. 12 funds opened positions while 29 raised stakes. 9.61 million shares or 0.10% less from 9.62 million shares in 2017Q4 were reported.
Renaissance Technology Ltd Company owns 427,949 shares. Aqr Capital Management Ltd Com reported 34,281 shares. Moreover, Royal Bankshares Of Canada has 0% invested in Camden National Corporation (NASDAQ:CAC). Great West Life Assurance Can reported 95 shares. Zurcher Kantonalbank (Zurich Cantonalbank) invested in 369 shares or 0% of the stock. Wells Fargo Mn holds 0% of its portfolio in Camden National Corporation (NASDAQ:CAC) for 51,177 shares. 26,861 were reported by Swiss Financial Bank. The New York-based Millennium Lc has invested 0% in Camden National Corporation (NASDAQ:CAC). Vanguard Gru Inc Inc reported 688,963 shares. Moreover, Yhb Inv Advisors has 0.07% invested in Camden National Corporation (NASDAQ:CAC). 60,025 are held by Rothschild Asset Incorporated. Legal General Group Inc Public Limited Company owns 2,807 shares. D E Shaw & Company holds 0% of its portfolio in Camden National Corporation (NASDAQ:CAC) for 8,608 shares. Schwab Charles Invest Mngmt accumulated 72,330 shares. Amer International has 9,785 shares for 0% of their portfolio.

Since February 27, 2018, it had 5 buys, and 1 insider sale for $65,624 activity. JORDAN DEBORAH A bought $28,974 worth of stock. 1,400 shares valued at $60,284 were sold by DUFOUR GREGORY A on Tuesday, February 27. 537 shares were bought by CAMPBELL JOANNE T, worth $16,191. 331 Camden National Corporation (NASDAQ:CAC) shares with value of $9,980 were bought by Rose Patricia A.

The chart of Camden National Corporation (CAC) shows a double top with $47.55 target or 5.00 % above today’s $45.29 share price. The 6 months chart pattern indicates low risk for the $705.01 million company. It was reported on Jun, 12 by If the $47.55 price target is reached, the company will be worth $35.25 million more. Double tops are rare but powerful chart patterns.

The stock decreased 0.98% or $0.45 during the last trading session, reaching $45.29. About 7,571 shares traded. Camden National Corporation (NASDAQ:CAC) has risen 12.23% since June 12, 2017 and is uptrending. It has underperformed by 0.34% the S&P500.

Analysts await Camden National Corporation (NASDAQ:CAC) to report earnings on July, 24. They expect $0.82 earnings per share, up 24.24 % or $0.16 from last year’s $0.66 per share. CAC’s profit will be $12.76M for 13.81 P/E if the $0.82 EPS becomes a reality. After $0.82 actual earnings per share reported by Camden National Corporation for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

Camden National Corporation (NASDAQ:CAC) Ratings Coverage

Among 2 analysts covering Camden National Corp (NASDAQ:CAC), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Camden National Corp has $51 highest and $48.0 lowest target. $49.50’s average target is 9.30% above currents $45.29 stock price. Camden National Corp had 2 analyst reports since December 21, 2017 according to SRatingsIntel. Keefe Bruyette & Woods maintained it with “Hold” rating and $48.0 target in Thursday, December 21 report. PiperJaffray maintained Camden National Corporation (NASDAQ:CAC) rating on Friday, February 2. PiperJaffray has “Overweight” rating and $51 target.

Camden National Corporation operates as the holding firm for Camden National Bank that provides commercial and consumer banking services and products to consumer, institutional, municipal, non-profit, and commercial customers. The company has market cap of $705.01 million. It offers various deposit products, including demand, interest checking, saving, and money market accounts. It has a 24.88 P/E ratio. The firm also originates single family and multi-family residential loans, commercial real estate loans, business loans, municipal loans, and various consumer loans, as well as loans for the construction of residential homes, multi-family properties, and commercial real estate properties.

Camden National Corporation (NASDAQ:CAC) Institutional Positions Chart

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