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

Camden National Co. (NASDAQ:CAC) declared a quarterly dividend on Tuesday, March 25th, RTT News reports. Stockholders of record on Tuesday, April 15th will be paid 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 raised its dividend payment by an average of 4.3% per year 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 research 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 Down 1.1 %

Shares of CAC stock opened at $41.54 on Wednesday. Camden National has a twelve month low of $28.62 and a twelve month high of $50.07. The stock has a market cap of $700.57 million, a P/E ratio of 11.48 and a beta of 0.73. The stock has a 50 day moving average of $43.50 and a 200 day moving average of $43.22. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08.

Camden National (NASDAQ:CAC) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate 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 last year, the business posted $0.85 earnings per share. As a group, sell-side analysts expect that Camden National will post 4.25 EPS for the current year.

Analyst Ratings Changes

CAC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods raised their target price on Camden National from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th. Raymond James reaffirmed 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, January 29th. Finally, StockNews.com started coverage on shares of Camden National in a report on Monday. 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.