Published on 3 Mar 2022 on Zacks via Yahoo Finance

Camden National (CAC) Surges 6.2%: Is This an Indication of Further Gains?

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Camden National CAC shares rallied 6.2% in the last trading session to close at $50.95. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.7% loss over the past four weeks.

Camden National witnessed a rise in share price for the second consecutive day. The performance of banks has been decent in the first quarter of 2022. Moreover, investors are gaining confidence in the sector on expectations of the interest rate hikes this year. This has possibly led to the bullish investor sentiments, which drove Camden National higher.

This bank is expected to post quarterly earnings of $1.01 per share in its upcoming report, which represents a year-over-year change of -23.5%. Revenues are expected to be $46.09 million, down 3.1% from the year-ago quarter.

NASDAQ.CAC price evolution
NYSE.CBU price evolution

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