Camden National (NASDAQ:CAC) Announces Earnings Results, Hits Estimates

Camden National (NASDAQ:CAC) announced its quarterly earnings results on Tuesday. The financial services provider reported $1.34 earnings per share for the quarter, meeting the consensus estimate of $1.34, FiscalAI reports. Camden National had a return on equity of 12.59% and a net margin of 23.64%.

Camden National Stock Up 1.1%

NASDAQ CAC opened at $58.46 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.09. Camden National has a 52 week low of $37.01 and a 52 week high of $60.59. The stock’s 50-day moving average price is $56.93 and its 200-day moving average price is $51.83. The company has a market capitalization of $987.97 million, a P/E ratio of 11.10 and a beta of 0.57.

Camden National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Thursday, October 15th. Camden National’s dividend payout ratio is 32.18%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CAC. Raymond James Financial raised their price target on Camden National from $56.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Weiss Ratings raised shares of Camden National from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. National Bank Financial set a $60.00 price objective on Camden National in a research report on Tuesday, September 15th. Keefe, Bruyette & Woods boosted their price target on shares of Camden National from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Finally, Hovde Group started coverage on shares of Camden National in a research report on Tuesday, September 15th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.50.

Camden National Company Profile

Camden National Corporation (NASDAQ:CAC) is a bank holding company headquartered in Camden, Maine. Through its principal subsidiary, Camden National Bank, the company provides banking and financial services to individuals, families, businesses and municipalities primarily across Maine.

Camden National Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, cash-management services and digital banking. Its offerings also include wealth management, trust and investment services designed to support customers with financial planning and asset management needs.

Founded in 1875, Camden National has developed a community-banking model supported by branches and banking offices throughout Maine.