Camden National (NASDAQ:CAC) Announces Earnings Results

Camden National (NASDAQ:CAC) posted its quarterly earnings results on Tuesday. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.11, Zacks reports. Camden National had a net margin of 16.47% and a return on equity of 10.09%. The company had revenue of $75.13 million for the quarter, compared to analyst estimates of $43.90 million. During the same period last year, the business posted $0.96 EPS.

Camden National Price Performance

CAC stock traded down $0.08 during trading on Friday, hitting $41.87. 18,892 shares of the stock traded hands, compared to its average volume of 49,841. The stock has a market cap of $610.05 million, a price-to-earnings ratio of 13.11 and a beta of 0.72. Camden National has a one year low of $28.62 and a one year high of $43.75. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.09. The company has a 50 day simple moving average of $40.08 and a 200 day simple moving average of $35.98.

Camden National Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Tuesday, October 15th. Camden National’s payout ratio is 52.50%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Camden National from $40.00 to $41.00 and gave the company a “market perform” rating in a research note on Wednesday, September 11th. Stephens increased their price target on shares of Camden National from $35.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, StockNews.com initiated coverage on Camden National in a report on Thursday. They set a “hold” rating on the stock.

About Camden National

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.