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

Camden National Co. (NASDAQ:CAC) announced a quarterly dividend on Tuesday, March 25th, RTT News reports. Stockholders 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 dividend yield of 4.04%.

Camden National has increased its dividend by an average of 4.3% annually 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

CAC traded down $0.47 during midday trading on Tuesday, reaching $41.54. The company had a trading volume of 59,334 shares, compared to its average volume of 58,901. Camden National has a 1 year low of $28.62 and a 1 year high of $50.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. The company has a market cap of $700.57 million, a P/E ratio of 11.48 and a beta of 0.73. The business has a 50-day moving average of $43.54 and a two-hundred day moving average of $43.20.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the business posted $0.85 EPS. As a group, equities research analysts predict that Camden National will post 4.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods increased their price target on Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th. StockNews.com initiated coverage on Camden National in a research report on Monday. They set a “hold” rating for the company. Finally, Raymond James restated an “outperform” rating and issued a $53.00 price target (up from $50.00) on shares of Camden National in a research note on Wednesday, January 29th.

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.