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Camden National (CAC)
:CAC
Earnings Data
Report Date
Apr 29, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.98Last Year’s EPS
0.86Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 28, 2025
|% Change Since: -1.19%
|Next Earnings Date:Apr 29, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted Camden National's successful merger with Northway Financial, strong net income growth, and expanded net interest margin. Despite flat loan growth and expected deposit outflows, the call emphasized positive financial metrics and strategic advancements.Company Guidance
During Camden National Corporation's fourth quarter 2024 earnings call, significant guidance was provided, emphasizing the company's strong financial performance and strategic developments. The merger with Northway Financial, completed on January 2, 2025, resulted in a combined institution with approximately $7 billion in total assets and 73 branches. The fourth quarter reported a GAAP net income of $14.7 million and earnings per share (EPS) of $1.00, marking increases of 12% and 11%, respectively, from the previous quarter. Excluding merger-related costs, net income was $15.1 million with an EPS of $1.03. The net interest margin expanded by 11 basis points quarter-over-quarter, reaching 2.57%, supported by proactive deposit cost management following recent Federal Reserve rate cuts. Notably, the high yield savings product attracted $201 million in deposits by year-end. Asset quality remained robust, with non-accrual loans at 12 basis points of total loans and a tangible common equity ratio of 7.64%. Additionally, the company's assets under administration grew by 12% to $2.1 billion, underscoring strong momentum in fee income from wealth management and brokerage services. The strategic focus on digital enhancements, including process automation which processed 1.7 million transactions in December, positions the bank for continued growth and efficiency improvements.Successful Merger with Northway Financial
Camden National closed its merger with Northway Financial, expanding its presence in New Hampshire. The combined institution now has total assets of approximately $7 billion and 73 branches.
Strong Financial Performance
Reported GAAP net income of $14.7 million for Q4 2024, a 12% increase from Q3 2024. Excluding merger costs, net income was $15.1 million, up 9% from Q3 2024.
Net Interest Margin Expansion
Net interest margin grew by 11 basis points compared to the third quarter, driven by lower deposit costs and strong operating results.
Growth in Wealth Management
Assets under administration increased by 12% to $2.1 billion as of December 31, 2024, reflecting strong momentum in fee income.
Excellent Asset Quality
Non-accrual loans totaled $4.8 million, representing 12 basis points of total loans, indicating strong asset quality maintenance.
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CAC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CAC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 28, 2025 | $44.44 | $45.43 | +2.23% |
| Oct 29, 2024 | $41.07 | $41.79 | +1.75% |
| Jul 30, 2024 | $39.26 | $40.56 | +3.31% |
| Apr 30, 2024 | $29.21 | $30.24 | +3.53% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Camden National (CAC) report earnings?
Camden National (CAC) is schdueled to report earning on Apr 29, 2025, TBA Not Confirmed.
What is Camden National (CAC) earnings time?
Camden National (CAC) earnings time is at Apr 29, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CAC EPS forecast?
CAC EPS forecast for the fiscal quarter 2025 (Q1) is 0.98.
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