Camden National Co. (NASDAQ:CAC) to Issue $0.42 Quarterly Dividend

Camden National Co. (NASDAQ:CAC - Get Free Report) announced a quarterly dividend on Tuesday, March 25th, RTT News reports. Shareholders of record on Tuesday, April 15th will be given a dividend of 0.42 per share by the financial services provider on Wednesday, April 30th. This represents a $1.68 annualized dividend and a yield of 4.14%. The ex-dividend date is Tuesday, April 15th.

Camden National has increased its dividend payment by an average of 4.3% per year over the last three years. Camden National has a dividend payout ratio of 33.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Shares of CAC stock traded down $0.84 during trading hours on Friday, reaching $40.61. 64,111 shares of the company traded hands, compared to its average volume of 61,823. The firm has a 50-day moving average price of $43.33 and a 200 day moving average price of $43.25. The company has a market cap of $684.89 million, a P/E ratio of 11.22 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. Camden National has a 12-month low of $28.62 and a 12-month high of $50.07.

Camden National (NASDAQ:CAC - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.14. Camden National had a net margin of 18.02% and a return on equity of 10.38%. During the same quarter in the prior year, the company earned $0.85 EPS. As a group, sell-side analysts predict that Camden National will post 4.25 earnings per share for the current fiscal year.

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Wall Street Analysts Forecast Growth

CAC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Camden National from $48.00 to $50.00 and gave the company a "market perform" rating in a research note on Wednesday, January 29th. Raymond James restated an "outperform" rating and issued a $53.00 price objective (up from $50.00) on shares of Camden National in a research report on Wednesday, January 29th. Finally, StockNews.com assumed coverage on Camden National in a research note on Monday, March 24th. 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.