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

Camden National (NASDAQ:CAC) posted its quarterly earnings results on Tuesday. The financial services provider reported $1.34 EPS for the quarter, hitting analysts’ consensus estimates of $1.34, FiscalAI reports. Camden National had a net margin of 23.64% and a return on equity of 12.59%.

Camden National Stock Up 1.1%

Shares of Camden National stock opened at $58.46 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.82 and a quick ratio of 0.82. Camden National has a 1 year low of $37.01 and a 1 year high of $60.59. The firm’s 50-day moving average is $56.93 and its two-hundred day moving average is $51.83. The stock has a market cap of $987.97 million, a price-to-earnings ratio of 11.20 and a beta of 0.57.

Camden National Announces Dividend

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

Wall Street Analyst Weigh In

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

About Camden National

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.