Camden National Co. (NASDAQ:CAC - Get Free Report) declared a quarterly dividend on Wednesday, December 18th,Wall Street Journal reports. Stockholders of record on Wednesday, January 15th will be paid a dividend of 0.42 per share by the financial services provider on Friday, January 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Wednesday, January 15th.
Camden National has increased its dividend by an average of 8.4% per year over the last three years. Camden National has a payout ratio of 41.9% meaning 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
NASDAQ CAC traded down $2.31 during trading hours on Wednesday, reaching $42.65. The company's stock had a trading volume of 79,592 shares, compared to its average volume of 51,476. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $621.71 million, a PE ratio of 13.33 and a beta of 0.75. The company's 50-day moving average is $44.99 and its two-hundred day moving average is $39.58. Camden National has a fifty-two week low of $28.62 and a fifty-two week high of $50.07.
Camden National (NASDAQ:CAC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.11. The firm had revenue of $75.13 million during 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 previous year, the firm posted $0.96 EPS. Analysts forecast that Camden National will post 3.49 EPS for the current year.
Analysts Set New Price Targets
Several equities research analysts have issued reports on CAC shares. StockNews.com initiated coverage on shares of Camden National in a research note on Wednesday. They set a "hold" rating on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Camden National from $43.00 to $48.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th.
Check Out Our Latest Stock Report on Camden National
Camden National Company Profile
(
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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.
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