Camden National Co. (CAC) to Issue Quarterly Dividend of $0.42 on January 31st

Camden National Co. (NASDAQ:CAC) declared a quarterly dividend on Tuesday, December 17th,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 4.05%. The ex-dividend date of this dividend is Wednesday, January 15th.

Camden National has increased its dividend payment by an average of 6.0% per year over the last three years. Camden National has a dividend payout ratio of 34.4% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Down 0.6 %

CAC opened at $41.51 on Monday. The stock has a market capitalization of $605.09 million, a price-to-earnings ratio of 12.97 and a beta of 0.76. The firm has a 50 day moving average price of $45.29 and a 200-day moving average price of $40.91. Camden National has a twelve month low of $28.62 and a twelve month 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.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. Camden National had a return on equity of 9.95% and a net margin of 16.47%. The company had revenue of $75.13 million during the quarter, compared to analysts’ expectations of $43.90 million. During the same quarter in the prior year, the business earned $0.96 earnings per share. Equities research analysts forecast that Camden National will post 3.49 earnings per share for the current year.

Wall Street Analyst Weigh In

CAC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods increased their price target on Camden National from $43.00 to $48.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com began coverage on Camden National in a research report on Saturday. They set a “hold” rating for the company. Finally, Raymond James raised Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a report on Friday, December 20th.

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.