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

Camden National Co. (NASDAQ:CAC - Get Free Report) declared a quarterly dividend on Tuesday, September 24th, Zacks reports. Stockholders of record on Tuesday, October 15th will be given a dividend of 0.42 per share by the financial services provider on Thursday, October 31st. This represents a $1.68 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Tuesday, October 15th.

Camden National has raised its dividend by an average of 8.4% annually over the last three years. Camden National has a dividend payout ratio of 41.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Camden National to earn $3.85 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 43.6%.

Camden National Stock Performance

Shares of CAC traded up $1.26 during trading hours on Friday, hitting $41.42. The company had a trading volume of 54,568 shares, compared to its average volume of 50,088. The firm has a market cap of $605.02 million, a price-to-earnings ratio of 13.76 and a beta of 0.72. The business has a fifty day moving average of $38.75 and a 200-day moving average of $35.01. Camden National has a 12 month low of $26.52 and a 12 month high of $43.44. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.09.

Camden National (NASDAQ:CAC - Get Free Report) last released its earnings results on Tuesday, July 30th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.71 by $0.10. Camden National had a net margin of 16.01% and a return on equity of 10.36%. The firm had revenue of $72.81 million for the quarter, compared to analyst estimates of $41.07 million. During the same period last year, the firm earned $0.85 EPS. Equities analysts anticipate that Camden National will post 3.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CAC. Keefe, Bruyette & Woods boosted their price target on shares of Camden National from $40.00 to $41.00 and gave the stock a "market perform" rating in a report on Wednesday, September 11th. StockNews.com began coverage on Camden National in a research note on Monday, October 7th. They issued a "hold" rating for the company. Finally, Stephens increased their price objective on Camden National from $35.00 to $42.00 and gave the company an "equal weight" rating in a research note on Friday, August 2nd.

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.