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

Camden National Co. (NASDAQ:CAC) declared a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Stockholders of record on Wednesday, January 15th will be given a dividend of 0.42 per share by the financial services provider on Friday, January 31st. This represents a $1.68 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend is Wednesday, January 15th.

Camden National has increased its dividend by an average of 6.0% per year over the last three years. Camden National has a dividend payout ratio of 34.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Camden National to earn $3.96 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 42.4%.

Camden National Price Performance

CAC opened at $41.51 on Monday. The firm has a market capitalization of $605.09 million, a PE ratio of 12.97 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. The business’s 50-day moving average is $45.29 and its two-hundred day moving average is $40.91. Camden National has a 1 year low of $28.62 and a 1 year high of $50.07.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. The business had revenue of $75.13 million for the quarter, compared to the consensus estimate of $43.90 million. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same period in the prior year, the firm posted $0.96 earnings per share. Research analysts anticipate that Camden National will post 3.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CAC has been the subject of a number of research analyst reports. Raymond James raised shares of Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Friday, December 20th. Keefe, Bruyette & Woods raised their target price on Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, StockNews.com assumed coverage on Camden National in a research note on Saturday. They set a “hold” rating on the 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.