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

Camden National Co. (NASDAQ:CAC) declared a quarterly dividend on Tuesday, March 26th, Zacks reports. Shareholders of record on Monday, April 15th will be paid 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 by an average of 8.4% per year over the last three years. Camden National has a dividend payout ratio of 50.5% indicating that 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 company has a debt-to-equity ratio of 0.09, a quick ratio of 0.80 and a current ratio of 0.81. The company has a market capitalization of $484.45 million, a P/E ratio of 11.20 and a beta of 0.73. The stock’s 50 day moving average price is $33.20 and its 200 day moving average price is $32.89. Camden National has a 52 week low of $26.52 and a 52 week high of $39.70.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on CAC. TheStreet upgraded shares of Camden National from a “c+” rating to a “b” rating in a research report on Wednesday, December 13th. StockNews.com downgraded shares of Camden National from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th.

Institutional Investors Weigh In On Camden National

Several institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG increased its holdings in Camden National by 8.3% during the third quarter. Deutsche Bank AG now owns 9,515 shares of the financial services provider’s stock worth $269,000 after buying an additional 733 shares during the last quarter. Creative Planning acquired a new position in shares of Camden National in the fourth quarter valued at approximately $254,000. Voya Investment Management LLC bought a new stake in Camden National in the 4th quarter valued at $250,000. Jane Street Group LLC acquired a new position in shares of Camden National in the second quarter valued at about $248,000. Finally, BNP Paribas Arbitrage SNC raised its holdings in Camden National by 15.9% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 5,445 shares of the financial services provider’s stock valued at $232,000 after acquiring an additional 746 shares in the last quarter. 77.41% of the stock is owned by institutional investors.

About Camden National

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.