Camden National (NASDAQ:CAC) Announces Quarterly Earnings Results

Camden National (NASDAQ:CAC) issued its earnings results on Tuesday. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.14, Zacks reports. Camden National had a return on equity of 9.95% and a net margin of 16.47%. During the same period in the previous year, the business posted $0.85 earnings per share.

Camden National Stock Performance

Shares of CAC stock opened at $45.86 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08. The company has a market cap of $668.64 million, a PE ratio of 14.33 and a beta of 0.76. Camden National has a 12-month low of $28.62 and a 12-month high of $50.07. The business’s fifty day simple moving average is $44.56 and its 200-day simple moving average is $41.83.

Camden National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be paid a $0.42 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $1.68 annualized dividend and a yield of 3.66%. Camden National’s dividend payout ratio (DPR) is 52.50%.

Wall Street Analysts Forecast Growth

CAC has been the topic of a number of research reports. StockNews.com started coverage on shares of Camden National in a research report on Monday. They set a “hold” rating on the stock. Raymond James reissued an “outperform” rating and set a $53.00 price objective (up from $50.00) on shares of Camden National in a report on Wednesday. Finally, Keefe, Bruyette & Woods upped their target price on Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday.

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.