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

Camden National Corporation (NASDAQ:CAC) declared a quarterly dividend on Tuesday, June 30th. Investors of record on Wednesday, July 15th will be paid a dividend of 0.42 per share by the financial services provider on Friday, July 31st. This represents a c) annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, July 15th.

Camden National has raised its dividend by an average of 0.0%annually over the last three years. Camden National has a dividend payout ratio of 33.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Camden National to earn $5.83 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 28.8%.

Camden National Trading Up 0.5%

Camden National stock opened at $54.22 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $917.40 million, a PE ratio of 11.54 and a beta of 0.56. The stock has a 50-day moving average of $50.25 and a two-hundred day moving average of $48.13. Camden National has a one year low of $35.00 and a one year high of $54.79.

Camden National (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. Camden National had a return on equity of 11.78% and a net margin of 21.32%.The business had revenue of $64.34 million for the quarter, compared to analyst estimates of $65.57 million. On average, research analysts anticipate that Camden National will post 5.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CAC. Raymond James Financial reissued an “outperform” rating and set a $56.00 target price on shares of Camden National in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods lifted their price objective on shares of Camden National from $47.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Camden National in a report on Tuesday, June 9th. Finally, National Bank Financial set a $50.00 target price on Camden National in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $52.25.

About Camden National

Camden National Corporation is a bank holding company headquartered in Camden, Maine. Through its primary subsidiary, Camden National Bank, the company provides a full range of community banking services to individuals and businesses. Its branch network spans much of the State of Maine, with a concentration in the midcoast, central and southern regions.

The company’s offerings include deposit products such as checking, savings and money market accounts, along with consumer and commercial lending services.