$1.06 EPS Expected for Camden National Co. (NASDAQ:CAC) This Quarter

Brokerages expect Camden National Co. (NASDAQ:CAC) to announce earnings per share of $1.06 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Camden National’s earnings, with the highest EPS estimate coming in at $1.07 and the lowest estimate coming in at $1.04. Camden National reported earnings of $1.22 per share in the same quarter last year, which would suggest a negative year over year growth rate of 13.1%. The company is scheduled to issue its next earnings report before the market opens on Tuesday, January 25th.

On average, analysts expect that Camden National will report full-year earnings of $4.55 per share for the current fiscal year, with EPS estimates ranging from $4.53 to $4.57. For the next fiscal year, analysts anticipate that the business will post earnings of $4.05 per share, with EPS estimates ranging from $3.85 to $4.25. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Camden National.

Camden National (NASDAQ:CAC) last posted its earnings results on Monday, October 25th. The financial services provider reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.06). Camden National had a return on equity of 13.18% and a net margin of 35.38%. The business had revenue of $45.85 million during the quarter, compared to analysts’ expectations of $44.84 million. During the same quarter in the previous year, the business earned $1.11 EPS.

A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of Camden National from a “buy” rating to a “hold” rating in a research report on Wednesday, December 29th. Raymond James lowered shares of Camden National from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 7th.

A number of institutional investors have recently made changes to their positions in the business. FourThought Financial LLC raised its stake in shares of Camden National by 134.8% during the third quarter. FourThought Financial LLC now owns 641 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 368 shares in the last quarter. Mascoma Wealth Management LLC purchased a new position in shares of Camden National during the third quarter worth approximately $63,000. Advisory Services Network LLC purchased a new position in shares of Camden National during the second quarter worth approximately $72,000. Public Employees Retirement System of Ohio purchased a new position in shares of Camden National during the second quarter worth approximately $91,000. Finally, Norway Savings Bank raised its stake in shares of Camden National by 11.7% during the third quarter. Norway Savings Bank now owns 2,618 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 275 shares in the last quarter. Institutional investors and hedge funds own 65.58% of the company’s stock.

Shares of CAC stock traded up $0.45 during trading hours on Friday, reaching $50.82. The stock had a trading volume of 20,381 shares, compared to its average volume of 37,128. The stock’s fifty day simple moving average is $48.30 and its 200 day simple moving average is $47.30. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.08. Camden National has a 12 month low of $36.75 and a 12 month high of $51.85. The firm has a market capitalization of $754.63 million, a PE ratio of 10.79 and a beta of 0.93.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 31st. Shareholders of record on Friday, January 14th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, January 13th. This is a positive change from Camden National’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 3.15%. Camden National’s payout ratio is presently 30.57%.

About Camden National

Camden National Corp. is a bank holding company, which engages in the provision of financial services to individuals and companies through its subsidiary, Camden National Bank. Its services includes lending, checking, savings, time deposits, cash management, brokerage, wealth management, and trust. The company was founded in 1984 and is headquartered in Camden, ME.

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