Camden National Co. Announces Quarterly Dividend of $0.42 (NASDAQ:CAC)

Camden National Co. (NASDAQ:CAC) declared a quarterly dividend on Tuesday, March 25th, RTT News reports. Shareholders of record on Tuesday, April 15th will be paid a dividend of 0.42 per share by the financial services provider on Wednesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date is Tuesday, April 15th.

Camden National has increased its dividend by an average of 4.3% annually over the last three years. Camden National has a payout ratio of 33.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Camden National to earn $4.95 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 33.9%.

Camden National Trading Down 0.1 %

CAC stock opened at $41.50 on Thursday. Camden National has a 1-year low of $28.62 and a 1-year high of $50.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $43.45 and its 200-day moving average is $43.21. The firm has a market cap of $699.90 million, a P/E ratio of 11.46 and a beta of 0.73.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.14. Camden National had a return on equity of 10.38% and a net margin of 18.02%. During the same period in the previous year, the business earned $0.85 EPS. Equities analysts anticipate that Camden National will post 4.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on CAC. StockNews.com initiated coverage on shares of Camden National in a research note on Monday. They issued a “hold” rating for the company. Raymond James reiterated an “outperform” rating and set a $53.00 price target (up previously from $50.00) on shares of Camden National in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th.

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.