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. The company accepts checking, savings, time, and brokered deposits, as well as deposits with the certificate of deposit account registry system. It also offers non-owner-occupied commercial estate loans, owner-occupied commercial real estate loans, unsecured fully-guaranteed commercial loans backed by the U.S. small business administration, loans secured by one-to four-family properties, and consumer and home equity loans. In addition, the company provides brokerage and insurance services through its financial offerings consisting of college, retirement, estate planning, mutual funds, strategic asset management accounts, and variable and fixed annuities. Further, it offers a range of fiduciary and asset management, wealth management, investment management, financial planning, and trustee services. As of December 31, 2021, the company had 57 branches within Maine; one residential mortgage lending office in Braintree, Massachusetts; two locations in New Hampshire, including a branch in Portsmouth and a commercial loan production office in Manchester; and an online residential mortgage and small commercial digital loan platform, as well as 66 ATMs. Camden National Corporation was founded in 1875 and is headquartered in Camden, Maine.
Camden National Stock Performance
NASDAQ:CAC traded down $0.16 on Friday, hitting $48.51. 64,742 shares of the company traded hands, compared to its average volume of 41,681. The business's 50 day moving average price is $45.27 and its 200-day moving average price is $46.27. The company has a market capitalization of $709.46 million, a price-to-earnings ratio of 11.47 and a beta of 0.80. Camden National has a 52-week low of $41.48 and a 52-week high of $52.16. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.10.
Camden National (NASDAQ:CAC - Get Rating) last posted its earnings results on Tuesday, July 26th. The financial services provider reported $1.02 EPS for the quarter, missing analysts' consensus estimates of $1.05 by ($0.03). The firm had revenue of $47.68 million during the quarter, compared to analysts' expectations of $47.20 million. Camden National had a return on equity of 12.51% and a net margin of 31.49%. During the same quarter in the prior year, the firm posted $1.21 earnings per share. Equities analysts expect that Camden National will post 4.28 earnings per share for the current year.
Camden National Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 15th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, July 14th. This represents a $1.60 dividend on an annualized basis and a yield of 3.30%. Camden National's dividend payout ratio is presently 37.83%.
Analyst Upgrades and Downgrades
Separately, Stephens lowered shares of Camden National from an "overweight" rating to an "equal weight" rating and set a $48.00 target price on the stock. in a research note on Thursday, August 4th.