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

Camden National (NASDAQ:CAC) released its quarterly earnings results on Tuesday. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.14, Zacks reports. Camden National had a net margin of 16.47% and a return on equity of 9.95%.

Camden National Trading Up 1.5 %

CAC opened at $44.45 on Tuesday. 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 stock has a market capitalization of $648.12 million, a PE ratio of 13.89 and a beta of 0.76. Camden National has a 12-month low of $28.62 and a 12-month high of $50.07. The firm’s fifty day moving average price is $44.61 and its 200 day moving average price is $41.70.

Camden National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be paid a $0.42 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.78%. Camden National’s dividend payout ratio (DPR) is presently 52.50%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Raymond James upgraded shares of Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research report on Friday, December 20th. Keefe, Bruyette & Woods lifted their price target on shares of Camden National from $43.00 to $48.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, StockNews.com began coverage on shares of Camden National in a research report on Monday. They set a “hold” rating on the stock.

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.