Camden National Corporation (CAC) To Go Ex-Dividend on July 15th

Camden National Corporation (NASDAQ:CAC) announced a quarterly dividend on Tuesday, June 30th. Stockholders of record on Wednesday, July 15th will be given a dividend of 0.42 per share by the financial services provider on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Wednesday, July 15th.

Camden National has raised its dividend by an average of 0.0%annually over the last three years. Camden National has a payout ratio of 33.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Camden National to earn $5.83 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 28.8%.

Camden National Price Performance

Shares of Camden National stock opened at $55.79 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.09. Camden National has a twelve month low of $35.00 and a twelve month high of $55.89. The business has a 50-day moving average price of $50.35 and a 200 day moving average price of $48.20. The firm has a market cap of $943.69 million, a PE ratio of 11.87 and a beta of 0.56.

Camden National (NASDAQ:CAC) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. Camden National had a return on equity of 11.78% and a net margin of 21.32%.The company had revenue of $64.34 million during the quarter, compared to analysts’ expectations of $65.57 million. Sell-side analysts predict that Camden National will post 5.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Camden National

Hedge funds have recently made changes to their positions in the company. Los Angeles Capital Management LLC boosted its stake in shares of Camden National by 1.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 15,982 shares of the financial services provider’s stock worth $693,000 after acquiring an additional 284 shares during the last quarter. Quantbot Technologies LP boosted its stake in Camden National by 11.9% during the 3rd quarter. Quantbot Technologies LP now owns 3,545 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 378 shares during the last quarter. Intech Investment Management LLC boosted its position in Camden National by 6.1% during the third quarter. Intech Investment Management LLC now owns 7,282 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 421 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Camden National by 2.2% during the 4th quarter. Signaturefd LLC now owns 20,592 shares of the financial services provider’s stock worth $893,000 after purchasing an additional 434 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Camden National by 106.1% during the first quarter. PNC Financial Services Group Inc. now owns 878 shares of the financial services provider’s stock worth $42,000 after buying an additional 452 shares in the last quarter. Institutional investors and hedge funds own 77.41% of the company’s stock.

About Camden National

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.