Camden National Corporation (CAC) to Distribute Quarterly Dividend of $0.42 on July 31st

Camden National Corporation (NASDAQ:CAC) declared a quarterly dividend on Monday, June 29th. 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 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. Research 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 Price Performance

Shares of NASDAQ:CAC opened at $53.73 on Monday. The company’s fifty day moving average is $50.97 and its 200-day moving average is $48.61. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.82 and a current ratio of 0.82. Camden National has a 52 week low of $35.00 and a 52 week high of $56.22. The company has a market capitalization of $909.11 million, a PE ratio of 11.43 and a beta of 0.55.

Camden National (NASDAQ:CAC) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. The firm had revenue of $64.34 million for the quarter, compared to the consensus estimate of $65.57 million. Camden National had a return on equity of 11.78% and a net margin of 21.32%. Equities research analysts predict that Camden National will post 5.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CAC. National Bank Financial set a $50.00 price target on Camden National in a research note on Wednesday, April 29th. Raymond James Financial boosted their price objective on shares of Camden National from $56.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Camden National in a report on Tuesday, June 9th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Camden National from $47.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Camden National presently has a consensus rating of “Hold” and a consensus target price of $52.75.

Camden National Company Profile

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.