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

Camden National Co. (NASDAQ:CAC) announced a quarterly dividend on Tuesday, March 25th, RTT News reports. Investors 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 dividend on an annualized basis and a dividend yield of 4.04%.

Camden National has raised its dividend by an average of 4.3% annually over the last three years. Camden National has a dividend payout ratio of 33.6% meaning 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 Performance

Shares of CAC stock opened at $41.54 on Wednesday. The firm has a market cap of $700.57 million, a P/E ratio of 11.48 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82. Camden National has a one year low of $28.62 and a one year high of $50.07. The firm’s 50 day moving average price is $43.50 and its 200-day moving average price is $43.22.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share for the quarter, beating 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 earnings per share. As a group, equities research analysts predict that Camden National will post 4.25 EPS for the current year.

Wall Street Analysts Forecast Growth

CAC has been the topic of a number of analyst reports. Raymond James reaffirmed an “outperform” rating and issued a $53.00 price target (up previously from $50.00) on shares of Camden National in a research report on Wednesday, January 29th. StockNews.com began coverage on shares of Camden National in a research report on Monday. They set a “hold” rating for the company. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th.

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.