Camden National (NASDAQ:CAC) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Camden National (NASDAQ:CAC) announced its quarterly earnings data on Tuesday. The financial services provider reported $1.03 earnings per share 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 Performance

NASDAQ CAC opened at $44.45 on Tuesday. Camden National has a 52-week low of $28.62 and a 52-week high of $50.07. The company has a 50-day simple moving average of $44.61 and a 200 day simple moving average of $41.70. The company has a market capitalization of $648.12 million, a PE ratio of 13.89 and a beta of 0.76. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.82 and a current ratio of 0.82.

Camden National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be issued a $0.42 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 3.78%. Camden National’s dividend payout ratio is currently 52.50%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CAC shares. Raymond James raised Camden National from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Friday, December 20th. StockNews.com began coverage on shares of Camden National in a research report on Monday. They set a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods raised their price objective on Camden National from $43.00 to $48.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

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.