Camden National (NASDAQ:CAC) Announces Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Camden National (NASDAQ:CAC) announced its earnings results on Tuesday. The financial services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.83 by $0.11, Zacks reports. The firm had revenue of $75.13 million for the quarter, compared to the consensus estimate of $43.90 million. Camden National had a net margin of 16.47% and a return on equity of 10.09%. During the same quarter last year, the firm posted $0.96 EPS.

Camden National Trading Down 0.3 %

CAC traded down $0.11 during mid-day trading on Friday, hitting $41.84. The stock had a trading volume of 14,588 shares, compared to its average volume of 49,820. The stock’s fifty day simple moving average is $40.08 and its 200-day simple moving average is $35.98. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.81. The firm has a market capitalization of $609.61 million, a price-to-earnings ratio of 13.11 and a beta of 0.72. Camden National has a 1-year low of $28.62 and a 1-year high of $43.75.

Camden National Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.68 dividend on an annualized basis and a yield of 4.02%. Camden National’s payout ratio is presently 52.50%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Camden National from $40.00 to $41.00 and gave the stock a “market perform” rating in a report on Wednesday, September 11th. StockNews.com started coverage on shares of Camden National in a research report on Thursday. They issued a “hold” rating on the stock. Finally, Stephens increased their price target on shares of Camden National from $35.00 to $42.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd.

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.