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

Camden National Corporation (NASDAQ:CAC) declared a quarterly dividend on Tuesday, December 16th. Shareholders of record on Thursday, January 15th will be paid a dividend of 0.42 per share by the financial services provider on Friday, January 30th. This represents a c) annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Thursday, January 15th.

Camden National has increased its dividend payment by an average of 0.1%annually over the last three years. Camden National has a dividend payout ratio of 33.1% meaning its dividend is sufficiently covered by earnings. Equities research 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 Up 0.7%

Shares of CAC traded up $0.32 during mid-day trading on Wednesday, reaching $46.13. 48,780 shares of the company were exchanged, compared to its average volume of 75,047. The business has a 50 day simple moving average of $39.58 and a two-hundred day simple moving average of $39.84. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $780.45 million, a PE ratio of 13.14 and a beta of 0.66. Camden National has a 52 week low of $34.53 and a 52 week high of $46.62.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, October 28th. The financial services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.01. The business had revenue of $116.67 million during the quarter, compared to the consensus estimate of $63.20 million. Camden National had a net margin of 16.24% and a return on equity of 10.76%. On average, analysts predict that Camden National will post 4.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

CAC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Camden National from $44.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday, October 29th. National Bankshares set a $45.00 price objective on Camden National in a research note on Wednesday, October 29th. Janney Montgomery Scott raised Camden National to a “hold” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Camden National in a research note on Monday. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.75.

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.