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

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 increased its dividend payment 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 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 %

CAC stock traded down $0.47 during midday trading on Tuesday, hitting $41.54. The stock had a trading volume of 59,334 shares, compared to its average volume of 58,901. The business has a 50-day moving average of $43.54 and a two-hundred day moving average of $43.20. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $700.57 million, a price-to-earnings ratio of 11.48 and a beta of 0.73. Camden National has a 52-week low of $28.62 and a 52-week high of $50.07.

Camden National (NASDAQ:CAC) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.14. Camden National had a return on equity of 10.38% and a net margin of 18.02%. During the same period in the prior year, the company posted $0.85 EPS. As a group, equities research analysts forecast that Camden National will post 4.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CAC shares. StockNews.com initiated coverage on shares of Camden National in a research note on Monday. They set a “hold” rating for the company. Raymond James reissued an “outperform” rating and set a $53.00 price target (up previously from $50.00) on shares of Camden National in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods upped their price objective 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.

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.