Camden National Corporation (NASDAQ:CAC) Plans Quarterly Dividend of $0.42

Key Points

• Camden National Corporation declared a quarterly dividend of $0.42 per share (ex-dividend/record date April 15, payable April 30), implying an annualized $1.68 payout and a yield of about 3.3%.
• The dividend appears sustainable with a current payout ratio near 33% and analysts forecasting ~$4.95 EPS next year (expected payout ratio ~33.9%); however, the Street consensus is a Hold with an average price target of $49.00.

Camden National Corporation (NASDAQ:CAC - Get Free Report) declared a quarterly dividend on Monday, March 30th, NASDAQ Dividends reports. Stockholders of record on Wednesday, April 15th will be given a dividend of 0.42 per share by the financial services provider on Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, April 15th.

Camden National has increased its dividend by an average of 0.0%annually over the last three years. Camden National has a payout ratio of 33.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Camden National to earn $4.95 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 33.9%.

Camden National Price Performance

Shares of CAC opened at $50.82 on Monday. The business's 50 day moving average is $47.89 and its 200 day moving average is $43.76. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. Camden National has a 12-month low of $34.53 and a 12-month high of $51.57. The company has a market capitalization of $862.92 million, a PE ratio of 13.23 and a beta of 0.58.

Camden National (NASDAQ:CAC - Get Free Report) last posted its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.01. Camden National had a return on equity of 11.22% and a net margin of 17.46%. Research analysts expect that Camden National will post 4.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CAC shares. Weiss Ratings upgraded shares of Camden National from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, February 19th. National Bank Financial set a $47.00 price target on shares of Camden National in a research note on Wednesday, January 28th. Keefe, Bruyette & Woods increased their price objective on shares of Camden National from $45.00 to $47.00 and gave the company a "market perform" rating in a report on Wednesday, January 28th. Finally, Stephens restated an "equal weight" rating and set a $53.00 price objective on shares of Camden National in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $49.00.

Camden National Company Profile

Camden National Corporation is a bank holding company headquartered in Camden, Maine. Through its primary subsidiary, Camden National Bank, the company provides a full range of community banking services to individuals and businesses. Its branch network spans much of the State of Maine, with a concentration in the midcoast, central and southern regions.

The company's offerings include deposit products such as checking, savings and money market accounts, along with consumer and commercial lending services.

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