Camden National (NASDAQ:CAC) Issues Quarterly Earnings Results

Camden National (NASDAQ:CAC) posted its quarterly earnings data on Tuesday. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.89 by $0.14, Zacks reports. Camden National had a net margin of 16.47% and a return on equity of 9.95%.

Camden National Stock Up 3.0 %

CAC opened at $45.09 on Tuesday. The company has a 50 day moving average of $44.61 and a 200 day moving average of $41.70. The company has a market cap of $657.47 million, a PE ratio of 14.14 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 company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.08.

Camden National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Wednesday, January 15th. Camden National’s dividend payout ratio (DPR) is presently 52.50%.

Analyst Upgrades and Downgrades

CAC has been the subject of several analyst reports. StockNews.com started coverage on shares of Camden National in a research note on Monday. They issued a “hold” rating for the company. Keefe, Bruyette & Woods increased their target price on shares of Camden National from $43.00 to $48.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Raymond James raised shares of Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research report on Friday, December 20th.

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.