Camden National (NASDAQ:CAC) Announces Earnings Results

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

Camden National Stock Up 0.1 %

Camden National stock traded up $0.06 on Friday, hitting $42.01. 22,275 shares of the stock traded hands, compared to its average volume of 49,856. Camden National has a 1 year low of $28.62 and a 1 year high of $43.75. The firm has a market cap of $612.09 million, a P/E ratio of 13.11 and a beta of 0.72. 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 business’s fifty day simple moving average is $40.08 and its 200 day simple moving average is $35.98.

Camden National Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a $0.42 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $1.68 annualized dividend and a yield of 4.00%. Camden National’s payout ratio is 52.50%.

Analysts Set New Price Targets

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

Camden National Company Profile

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.