Camden National Corporation (NASDAQ:CAC) Announces $0.42 Quarterly Dividend

Camden National Corporation (NASDAQ:CAC) declared a quarterly dividend on Tuesday, June 30th. Investors of record on Wednesday, July 15th will be paid a dividend of 0.42 per share by the financial services provider on Friday, July 31st. This represents a c) annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, July 15th.

Camden National has raised its dividend payment by an average of 0.0%annually over the last three years. Camden National has a dividend payout ratio of 33.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Camden National to earn $5.83 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 28.8%.

Camden National Trading Up 0.5%

NASDAQ CAC opened at $54.22 on Wednesday. The business’s 50-day moving average price is $50.25 and its two-hundred day moving average price is $48.13. Camden National has a 12 month low of $35.00 and a 12 month high of $54.79. The firm has a market capitalization of $917.40 million, a PE ratio of 11.54 and a beta of 0.56. 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 (NASDAQ:CAC) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.03. Camden National had a return on equity of 11.78% and a net margin of 21.32%.The company had revenue of $64.34 million during the quarter, compared to analysts’ expectations of $65.57 million. On average, analysts expect that Camden National will post 5.39 EPS for the current year.

Institutional Trading of Camden National

Several large investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its position in shares of Camden National by 7.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,559,400 shares of the financial services provider’s stock valued at $60,177,000 after acquiring an additional 113,221 shares during the period. Dimensional Fund Advisors LP increased its stake in Camden National by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 830,350 shares of the financial services provider’s stock valued at $39,400,000 after purchasing an additional 8,205 shares in the last quarter. State Street Corp increased its stake in Camden National by 0.4% in the fourth quarter. State Street Corp now owns 475,268 shares of the financial services provider’s stock valued at $20,617,000 after purchasing an additional 1,852 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Camden National by 4.7% during the third quarter. JPMorgan Chase & Co. now owns 311,170 shares of the financial services provider’s stock valued at $12,008,000 after purchasing an additional 13,849 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Camden National by 70.4% during the fourth quarter. Wellington Management Group LLP now owns 220,382 shares of the financial services provider’s stock valued at $9,560,000 after purchasing an additional 91,018 shares during the period. Institutional investors and hedge funds own 77.41% of the company’s stock.

Camden National Company Profile

Camden National Corporation is a bank holding company headquartered in Camden, Maine. Through its primary subsidiary, Camden National Bank, the company provides a full range of community banking services to individuals and businesses. Its branch network spans much of the State of Maine, with a concentration in the midcoast, central and southern regions.

The company’s offerings include deposit products such as checking, savings and money market accounts, along with consumer and commercial lending services.