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

Camden National Co. (NASDAQ:CAC) announced 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 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date is Friday, April 12th.

Camden National has increased 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. Equities research 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 %

Shares of Camden National stock 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 stock has a market capitalization of $484.45 million, a P/E ratio of 11.20 and a beta of 0.73. Camden National has a 52-week low of $26.52 and a 52-week high of $39.70. The stock’s 50-day simple moving average is $33.20 and its 200 day simple moving average is $32.89.

Camden National (NASDAQ:CAC) last released its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85. Camden National had a net margin of 16.86% and a return on equity of 10.90%. The business had revenue of $65.78 million during the quarter, compared to analyst estimates of $42.75 million. During the same period in the previous year, the business earned $1.05 EPS. As a group, research analysts anticipate that Camden National will post 3.08 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on CAC. TheStreet raised Camden National from a “c+” rating to a “b” rating in a report on Wednesday, December 13th. StockNews.com lowered shares of Camden National from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Deutsche Bank AG raised its position 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 valued at $269,000 after purchasing an additional 733 shares in the last quarter. Creative Planning purchased a new position in shares of Camden National during the 4th quarter valued at about $254,000. Voya Investment Management LLC purchased a new position in shares of Camden National during the 4th quarter valued at about $250,000. Jane Street Group LLC bought a new stake in Camden National in the 2nd quarter worth approximately $248,000. Finally, BNP Paribas Arbitrage SNC boosted its stake in Camden National by 15.9% in the third quarter. BNP Paribas Arbitrage SNC now owns 5,445 shares of the financial services provider’s stock worth $232,000 after buying an additional 746 shares in the last quarter. Hedge funds and other institutional investors own 77.41% of the company’s stock.

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.