Camden National Co. Declares Quarterly Dividend of $0.42 (NASDAQ:CAC)

Camden National Co. (NASDAQ:CAC) declared a quarterly dividend on Tuesday, March 26th, Zacks reports. Shareholders of record on Monday, April 15th will be given a dividend of 0.42 per share by the financial services provider on Tuesday, April 30th. This represents a $1.68 annualized dividend and a yield of 5.05%. The ex-dividend date is Friday, April 12th.

Camden National has raised its dividend payment by an average of 8.4% annually over the last three years. Camden National has a payout ratio of 50.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Camden National to earn $3.41 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 49.3%.

Camden National Trading Up 4.9 %

NASDAQ CAC opened at $33.25 on Thursday. The firm has a market cap of $484.45 million, a PE ratio of 11.20 and a beta of 0.73. Camden National has a one year low of $26.52 and a one year high of $39.70. The firm’s fifty day moving average is $33.20 and its two-hundred day moving average is $32.89. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.80 and a current ratio of 0.81.

Camden National (NASDAQ:CAC) last announced its earnings results on Tuesday, January 30th. The financial services provider reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. Camden National had a return on equity of 10.90% and a net margin of 16.86%. The company had revenue of $65.78 million for the quarter, compared to the consensus estimate of $42.75 million. During the same period last year, the business posted $1.05 EPS. Analysts expect that Camden National will post 3.08 earnings per share for the current year.

Hedge Funds Weigh In On Camden National

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James & Associates raised its holdings in shares of Camden National by 5.9% in the 1st quarter. Raymond James & Associates now owns 45,879 shares of the financial services provider’s stock worth $2,158,000 after purchasing an additional 2,567 shares during the period. American Century Companies Inc. lifted its holdings in shares of Camden National by 20.4% in the 1st quarter. American Century Companies Inc. now owns 18,475 shares of the financial services provider’s stock worth $869,000 after purchasing an additional 3,130 shares during the last quarter. HighTower Advisors LLC grew its stake in Camden National by 1.8% during the 1st quarter. HighTower Advisors LLC now owns 17,250 shares of the financial services provider’s stock worth $812,000 after buying an additional 300 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Camden National by 20.9% in the 1st quarter. MetLife Investment Management LLC now owns 7,289 shares of the financial services provider’s stock worth $343,000 after acquiring an additional 1,258 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Camden National by 1.6% in the first quarter. BlackRock Inc. now owns 1,207,144 shares of the financial services provider’s stock valued at $56,784,000 after purchasing an additional 18,448 shares during the period. 77.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAC has been the subject of several analyst reports. StockNews.com cut shares of Camden National from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. TheStreet raised shares of Camden National from a “c+” rating to a “b” rating in a report on Wednesday, December 13th.

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.