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

Camden National Co. (NASDAQ:CAC) declared a quarterly dividend on Wednesday, December 18th,Wall Street Journal reports. Shareholders of record on Wednesday, January 15th will be given a dividend of 0.42 per share by the financial services provider on Friday, January 31st. This represents a $1.68 annualized dividend and a yield of 3.92%. The ex-dividend date is Wednesday, January 15th.

Camden National has increased its dividend by an average of 8.4% per year over the last three years. Camden National has a dividend payout ratio of 41.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Camden National to earn $3.96 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 42.4%.

Camden National Trading Down 4.6 %

Shares of NASDAQ:CAC traded down $2.09 during trading on Wednesday, reaching $42.87. The stock had a trading volume of 53,728 shares, compared to its average volume of 51,281. Camden National has a 52 week low of $28.62 and a 52 week high of $50.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s fifty day moving average is $44.94 and its 200 day moving average is $39.55. The stock has a market cap of $624.92 million, a price-to-earnings ratio of 13.40 and a beta of 0.75.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.11. The firm had revenue of $75.13 million for the quarter, compared to analyst estimates of $43.90 million. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same period in the previous year, the firm earned $0.96 earnings per share. As a group, equities analysts forecast that Camden National will post 3.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CAC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods increased their target price on Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com assumed coverage on shares of Camden National in a report on Wednesday. They set 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.