Camden National Corporation (NASDAQ:CAC – Get Free Report) announced a quarterly dividend on Tuesday, September 29th. Investors of record on Thursday, October 15th will be paid a dividend of $0.42 per share by the financial services provider on Friday, October 30th. This represents a $1.68 annualized dividend and a yield of 3.0%. The ex-dividend date is Thursday, October 15th.
Camden National has increased its dividend by an average of 0.0%annually over the last three years. Camden National has a payout ratio of 33.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Camden National to earn $5.78 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 29.1%.
Camden National Trading Down 1.4%
Shares of NASDAQ CAC opened at $55.35 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.09. Camden National has a one year low of $35.00 and a one year high of $60.59. The business has a 50-day moving average price of $57.36 and a two-hundred day moving average price of $52.80. The firm has a market capitalization of $935.41 million, a PE ratio of 10.60 and a beta of 0.54.
Analyst Ratings Changes
Several research analysts have weighed in on CAC shares. National Bank Financial set a $60.00 price objective on shares of Camden National in a research note on Tuesday, September 15th. Weiss Ratings restated a “buy (b)” rating on shares of Camden National in a report on Friday, September 4th. Raymond James Financial upped their price target on shares of Camden National from $56.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Hovde Group began coverage on Camden National in a report on Tuesday, September 15th. They set a “hold” rating for the company. Finally, Keefe, Bruyette & Woods lifted their price objective on Camden National from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Camden National has an average rating of “Hold” and an average target price of $56.50.
Get Our Latest Stock Analysis on CAC
About Camden National
Camden National Corporation (NASDAQ:CAC) is a bank holding company headquartered in Camden, Maine. Its principal subsidiary, Camden National Bank, provides banking and financial services to individuals, families, businesses, nonprofit organizations and municipalities across Maine.
The bank offers deposit accounts, residential and commercial lending, home equity loans, consumer loans, cash-management services, online and mobile banking, and other financial products. Through its wealth-management operations, Camden National also provides investment management, trust, retirement planning and related advisory services.
Camden National traces its history to 1875 and has grown into a community-focused banking organization serving customers through a network of locations throughout Maine.
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