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

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

Camden National has increased its dividend payment by an average of 8.4% annually over the last three years. Camden National has a dividend payout ratio of 41.7% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NASDAQ:CAC traded up $1.26 during trading on Friday, reaching $41.42. 54,568 shares of the company’s stock traded hands, compared to its average volume of 50,088. 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 has a fifty-two week low of $26.52 and a fifty-two week high of $43.44. The company has a 50-day simple moving average of $38.75 and a 200-day simple moving average of $35.01. The firm has a market cap of $605.02 million, a PE ratio of 13.76 and a beta of 0.72.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.10. The company had revenue of $72.81 million for the quarter, compared to the consensus estimate of $41.07 million. Camden National had a return on equity of 10.36% and a net margin of 16.01%. During the same quarter in the prior year, the business posted $0.85 earnings per share. As a group, analysts predict that Camden National will post 3.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CAC shares. Stephens boosted their price target on shares of Camden National from $35.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Keefe, Bruyette & Woods upped their target price 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. Finally, StockNews.com started coverage on Camden National in a report on Monday, October 7th. They issued a “hold” rating for the company.

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.