Camden National (NASDAQ:CAC) Issues Earnings Results, Hits Expectations

Camden National (NASDAQ:CAC – Get Free Report) announced its quarterly earnings results on Tuesday. The financial services provider reported $1.34 earnings per share for the quarter, hitting the consensus estimate of $1.34, FiscalAI reports. Camden National had a net margin of 23.64% and a return on equity of 12.59%.

Camden National Stock Up 1.1%

Shares of NASDAQ:CAC opened at $58.46 on Tuesday. The stock has a market cap of $987.97 million, a price-to-earnings ratio of 11.10 and a beta of 0.57. The firm’s 50 day moving average price is $56.93 and its 200 day moving average price is $51.83. 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 fifty-two week low of $37.01 and a fifty-two week high of $60.59.

Camden National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be issued a dividend of $0.42 per share. The ex-dividend date is Thursday, October 15th. This represents a $1.68 annualized dividend and a yield of 2.9%. Camden National’s dividend payout ratio is 32.18%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. National Bank Financial set a $60.00 target price on shares of Camden National in a report on Tuesday, September 15th. Hovde Group started coverage on shares of Camden National in a research report on Tuesday, September 15th. They set a “hold” rating for the company. Weiss Ratings raised shares of Camden National from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Keefe, Bruyette & Woods lifted their price objective on Camden National from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Thursday, July 30th. Finally, Raymond James Financial boosted their price target on shares of Camden National from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.50.

View Our Latest Stock Analysis on Camden National

Camden National Company Profile

(Get Free Report)

Camden National Corporation (NASDAQ:CAC) is a bank holding company headquartered in Camden, Maine. Through its principal subsidiary, Camden National Bank, the company provides banking and financial services to individuals, families, businesses and municipalities primarily across Maine.

Camden National Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, cash-management services and digital banking. Its offerings also include wealth management, trust and investment services designed to support customers with financial planning and asset management needs.

Founded in 1875, Camden National has developed a community-banking model supported by branches and banking offices throughout Maine.

See Also

Earnings History for Camden National (NASDAQ:CAC)

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