Analysts Anticipate Camden National Co. (NASDAQ:CAC) to Post $1.16 EPS

Brokerages forecast that Camden National Co. (NASDAQ:CAC) will announce earnings per share (EPS) of $1.16 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Camden National’s earnings, with the lowest EPS estimate coming in at $1.11 and the highest estimate coming in at $1.20. Camden National posted earnings of $0.73 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 58.9%. The business is scheduled to announce its next quarterly earnings report on Tuesday, July 27th.

According to Zacks, analysts expect that Camden National will report full year earnings of $4.54 per share for the current year, with EPS estimates ranging from $4.30 to $4.77. For the next fiscal year, analysts anticipate that the firm will report earnings of $4.23 per share, with EPS estimates ranging from $3.65 to $4.80. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Camden National.

Camden National (NASDAQ:CAC) last released its quarterly earnings results on Monday, April 26th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.30. The company had revenue of $47.58 million during the quarter, compared to the consensus estimate of $45.83 million. Camden National had a return on equity of 12.63% and a net margin of 31.81%.

Several analysts have recently issued reports on the company. Raymond James upped their price target on Camden National from $45.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 28th. Zacks Investment Research upgraded Camden National from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Thursday, April 29th. Finally, Stephens started coverage on Camden National in a research note on Monday. They set an “overweight” rating and a $54.00 price target for the company.

CAC opened at $48.66 on Friday. The company has a market cap of $726.98 million, a P/E ratio of 11.14 and a beta of 1.00. The business’s 50-day moving average is $47.39. Camden National has a 52-week low of $28.32 and a 52-week high of $49.65. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.79 and a current ratio of 0.80.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 30th. Investors of record on Thursday, April 15th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.96%. The ex-dividend date was Wednesday, April 14th. This is a boost from Camden National’s previous quarterly dividend of $0.33. Camden National’s payout ratio is currently 36.46%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. acquired a new position in shares of Camden National during the 1st quarter worth about $34,000. Lazard Asset Management LLC acquired a new position in Camden National in the 4th quarter valued at approximately $27,000. Denali Advisors LLC acquired a new position in Camden National in the 1st quarter valued at approximately $44,000. Mascoma Wealth Management LLC acquired a new position in Camden National in the 1st quarter valued at approximately $63,000. Finally, Panagora Asset Management Inc. acquired a new position in Camden National in the 4th quarter valued at approximately $51,000. 66.46% of the stock is owned by institutional investors and hedge funds.

About Camden National

Camden National Corporation operates as the bank holding company for Camden National Bank that provides commercial and consumer banking products and services to consumer, institutional, municipal, non-profit, and commercial customers. The company accepts checking, savings, time, and brokered deposits, as well as certificates of deposit.

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