Camden National (NASDAQ:CAC) Issues Earnings Results, Beats Expectations By $0.14 EPS

Camden National (NASDAQ:CAC - Get Free Report) announced its quarterly earnings data on Tuesday. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.14, Zacks reports. Camden National had a net margin of 18.02% and a return on equity of 10.38%. During the same period in the previous year, the company posted $0.85 EPS.

Camden National Trading Down 0.1 %

NASDAQ CAC traded down $0.05 during mid-day trading on Friday, reaching $45.42. 63,759 shares of the stock were exchanged, compared to its average volume of 84,931. The stock has a market capitalization of $662.22 million, a PE ratio of 12.55 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. Camden National has a 1-year low of $28.62 and a 1-year high of $50.07. The business's fifty day simple moving average is $44.52 and its 200 day simple moving average is $41.89.

Camden National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.70%. Camden National's dividend payout ratio is currently 46.41%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CAC shares. Raymond James reissued an "outperform" rating and set a $53.00 target price (up from $50.00) on shares of Camden National in a research note on Wednesday. Keefe, Bruyette & Woods boosted their target price on shares of Camden National from $48.00 to $50.00 and gave the stock a "market perform" rating in a research report on Wednesday. Finally, StockNews.com started coverage on shares of Camden National in a report on Monday. They issued a "hold" rating for the company.

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.