Brokerages expect Camden National Co. (NASDAQ:CAC) to announce earnings of $1.16 per share for the current fiscal quarter, Zacks reports. Two analysts have provided 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 reported earnings of $0.73 per share in the same quarter last year, which indicates a positive year over year growth rate of 58.9%. The business is scheduled to issue its next earnings results before the market opens on Tuesday, July 27th.
According to Zacks, analysts expect that Camden National will report full-year earnings of $4.39 per share for the current financial year, with EPS estimates ranging from $4.11 to $4.77. For the next year, analysts forecast that the company will post earnings of $4.10 per share, with EPS estimates ranging from $3.65 to $4.80. Zacks’ EPS averages are an average based on a survey of analysts that cover Camden National.
Camden National (NASDAQ:CAC) last released its earnings results on Monday, April 26th. The financial services provider reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.30. Camden National had a net margin of 31.81% and a return on equity of 12.63%. The firm had revenue of $47.58 million during the quarter, compared to analysts’ expectations of $45.83 million.
Several institutional investors have recently made changes to their positions in CAC. Amundi Pioneer Asset Management Inc. grew its holdings in Camden National by 10.9% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 90,080 shares of the financial services provider’s stock worth $3,758,000 after acquiring an additional 8,825 shares during the last quarter. Camden National Bank grew its holdings in Camden National by 21.6% during the 4th quarter. Camden National Bank now owns 127,476 shares of the financial services provider’s stock worth $4,561,000 after acquiring an additional 22,631 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Camden National by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 140,028 shares of the financial services provider’s stock worth $5,011,000 after acquiring an additional 442 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in Camden National during the 4th quarter worth about $51,000. Finally, Rhumbline Advisers grew its holdings in Camden National by 11.3% during the 4th quarter. Rhumbline Advisers now owns 25,697 shares of the financial services provider’s stock worth $919,000 after acquiring an additional 2,611 shares during the last quarter. Institutional investors and hedge funds own 65.54% of the company’s stock.
Shares of CAC stock traded down $0.73 during mid-day trading on Friday, reaching $44.59. The company’s stock had a trading volume of 223 shares, compared to its average volume of 53,950. Camden National has a 1-year low of $28.32 and a 1-year high of $49.65. The company has a market capitalization of $666.17 million, a P/E ratio of 10.21 and a beta of 1.00. 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’s 50-day moving average is $47.15.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 30th. Investors of record on Thursday, July 15th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Wednesday, July 14th. Camden National’s dividend payout ratio (DPR) is currently 36.46%.
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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