Camden National (CAC) AI Stock Analysis

• Market Cap: $778.40M
• Dividend Yield: 3.66%
• Average Volume (3M): 75.77K
• Price to Earnings (P/E): 8.1
• Beta (1Y): 0.93
• Revenue Growth: 24.08%
• EPS Growth: 9.83%
• Country: US
• Employees: 586
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 1.33
• Shares Outstanding: 16,925,330
• 10 Day Avg. Volume: 103,617
• 30 Day Avg. Volume: 75,767
• PEG Ratio: 1.85
• Price to Book (P/B): 1.05
• Price to Sales (P/S): 1.99
• P/FCF Ratio: 12.27
• Enterprise Value/Market Cap: 1.70
• Enterprise Value/Revenue: 3.61
• Enterprise Value/Gross Profit: 5.75
• Enterprise Value/Ebitda: 14.47
• 1Y Price Target: $50.00
• Price Target Upside: 8.72% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 5.43
• Revenue Forecast (FY): $275.76M

• Rating: 64 Neutral
• Price Target: $49.00 ▲(6.54% Upside)
• Action: Downgraded Date: 03/07/26
• Date: Action: Downgraded 03/07/26

The score is driven primarily by mixed financial quality (notably weak/volatile cash flow despite solid profitability) and bearish near-term technical momentum. Offsetting these are an attractive valuation (low P/E and strong dividend yield) and a generally positive earnings call featuring record results, improving margin dynamics, and a meaningful buyback authorization.

Positive Factors

Strong profitability & efficiency

Sustained high profitability and a sub-52% efficiency ratio indicate durable operating leverage and disciplined expense management. Over 2–6 months this supports reinvestment, dividend continuity and capacity to absorb credit volatility while funding strategic initiatives.

Solid capital position & buyback

A repurchase authorization and regulatory capital above internal targets provide flexible capital management. With rebuilt capital post-acquisition, the firm can return excess capital or defend the balance sheet, supporting long-term shareholder returns and strategic optionality.

Wealth/advice growth and digital adoption

Growing wealth AUA and rising digital engagement diversify fee income and deepen customer relationships. Product innovation (youth banking) and digital traction among younger cohorts support durable cross-sell, lower acquisition costs and a steadier noninterest income base over time.

Negative Factors

Weakened operating cash flow

Sharp declines and volatility in operating and free cash flow undermine the quality of earnings and reduce internally available capital for dividends, buybacks, and reinvestment. This raises reliance on external funding and increases vulnerability to funding cost shifts over months.

Margin compression from 2021–22 peaks

Material step-down in margins versus prior peaks signals lower structural profitability and reduced return-on-equity potential. Sustained lower margins limit capital generation and constrain flexibility to invest or absorb adverse credit or rate scenarios over the medium term.

Commercial real estate loss & loan softness

A recent CRE charge-off tied to office assets and a quarter of loan decline highlight exposure to secular office-market weakness and prepayment dynamics. Persistent CRE pressure could increase provisioning needs and erode credit metrics over multiple quarters.

Camden National Business Overview & Revenue Model

Company Description

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. The company accepts checking, savings, time, and brokered deposits, as well as deposits with the certificate of deposit account registry system. It also offers non-owner-occupied commercial estate loans, owner-occupied commercial real estate loans, unsecured fully-guaranteed commercial loans backed by the U.S. small business administration, loans secured by one-to four-family properties, and consumer and home equity loans. In addition, the company provides brokerage and insurance services through its financial offerings consisting of college, retirement, estate planning, mutual funds, strategic asset management accounts, and variable and fixed annuities. Further, it offers a range of fiduciary and asset management, wealth management, investment management, financial planning, and trustee services. As of December 31, 2021, the company had 57 branches within Maine; one residential mortgage lending office in Braintree, Massachusetts; two locations in New Hampshire, including a branch in Portsmouth and a commercial loan production office in Manchester; and an online residential mortgage and small commercial digital loan platform, as well as 66 ATMs. Camden National Corporation was founded in 1875 and is headquartered in Camden, Maine.

How the Company Makes Money

Camden National generates revenue primarily through interest income from loans, which includes personal, commercial, and mortgage loans. In addition to interest income, the company earns non-interest income from fees associated with various banking services, including account maintenance, transaction fees, and investment advisory services. The bank's investment management and wealth management services also contribute to its revenue streams. Significant partnerships with local businesses and community organizations help drive customer engagement and loyalty, further enhancing the company's earnings potential. Additionally, Camden National may benefit from economic growth in its operating regions, which can lead to increased loan demand and higher asset quality.

Camden National Financial Statement Overview

Summary

Revenue momentum and profitability are solid, and leverage improved in 2025, but the sharp deterioration and volatility in operating/free cash flow is a major quality-of-earnings concern. Margins and ROE also remain below the 2021–2022 peak.

Income Statement

Revenue has accelerated meaningfully in 2025 (+6.3% vs. ~0.2% in 2024) and is well above 2020–2021 levels, showing a solid top-line trajectory. Profitability remains healthy with a ~17–18% net margin in 2023–2025 and steady operating profitability. The key weakness is a notable step-down in margins versus 2021–2022 (when net margins were ~29–36%), suggesting the earnings profile is less robust than the peak period even as revenue grows.

Balance Sheet

The balance sheet is reasonably supported by equity, and leverage improved in 2025 (debt-to-equity ~0.93) versus 2023–2024 (above 1.0). Total assets have also grown steadily over time, indicating franchise expansion. Offsetting this, debt has risen materially since 2021–2022, and returns on equity have moderated to ~9–10% in 2024–2025 from ~13–14% in 2022, implying less efficient capital generation recently.

Cash Flow

Cash generation has weakened sharply: operating cash flow fell to ~$25.5M in 2025 from ~$60.9M in 2024 and ~$105.2M in 2022, and free cash flow declined ~68% in 2025. A positive is that free cash flow is still roughly in line with net income in 2025 (free cash flow to net income ~1.0). However, the overall direction and volatility of cash flow over the last several years is the main concern versus the relatively steady profitability shown on the income statement.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	367.34M	289.72M	250.32M	208.89M	193.91M
Gross Profit	230.62M	172.11M	156.07M	179.29M	186.05M
EBITDA	91.54M	69.33M	57.80M	81.16M	91.00M
Net Income	65.16M	53.00M	43.38M	61.44M	69.01M
Balance Sheet
Total Assets	6.97B	5.81B	5.71B	5.67B	5.50B
Cash, Cash Equivalents and Short-Term Investments	1.03B	792.76M	725.61M	771.30M	1.73B
Total Debt	644.29M	544.95M	529.94M	309.51M	255.94M
Total Liabilities	6.28B	5.27B	5.22B	5.22B	4.96B
Stockholders Equity	696.56M	531.23M	495.06M	451.28M	541.29M
Cash Flow
Free Cash Flow	59.52M	55.36M	64.89M	103.00M	140.86M
Operating Cash Flow	65.22M	60.93M	67.51M	105.18M	142.72M
Investing Cash Flow	-57.73M	30.33M	-7.03M	-487.72M	-649.09M
Financing Cash Flow	-25.59M	23.90M	-36.10M	237.34M	581.23M

Camden National Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 45.99
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CAC, the sentiment is Neutral. The current price of 45.99 is below the 20-day moving average (MA) of 47.46, below the 50-day MA of 46.82, and above the 200-day MA of 41.22, indicating a neutral trend. The MACD of -0.50 indicates Positive momentum. The RSI at 43.80 is Neutral, neither overbought nor oversold. The STOCH value of 48.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CAC.

Camden National Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HTBK	71 Outperform	$749.59M	12.18	6.83%	4.16%	8.23%	-0.07%
IBCP	69 Neutral	$681.89M	9.81	14.51%	3.09%	4.29%	10.56%
MCBS	69 Neutral	$815.56M	10.05	15.62%	3.55%	-0.23%	10.95%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
ORRF	67 Neutral	$666.86M	7.29	14.41%	2.93%	47.65%	101.00%
CAC	64 Neutral	$778.40M	8.09	9.49%	3.66%	24.08%	9.83%
MPB	61 Neutral	$785.04M	12.77	7.31%	2.58%	12.09%	-15.97%

Camden National Corporate Events

Camden National Announces New Common Stock Repurchase Program

On January 8, 2026, Camden National Corporation announced that its board of directors had authorized a new share repurchase program for up to 850,000 shares of its common stock, representing about 5% of its issued and outstanding shares as of December 31, 2025, with the program becoming effective on January 7, 2026. The repurchases, which may be conducted via open market purchases, accelerated share repurchase transactions, or privately negotiated deals under Rule 10b5-1 plans, are designed to provide the company with flexible capital management options and can be adjusted or suspended depending on market conditions, the company’s capital position, and internal capital generation, potentially affecting share liquidity and shareholder value.

The most recent analyst rating on (CAC) stock is a Buy with a $53.00 price target. To see the full list of analyst forecasts on Camden National stock, see the CAC Stock Forecast page.

Camden National Announces Quarterly Dividend Declaration

On December 16, 2025, Camden National Corporation announced a quarterly dividend of $0.42 per share, resulting in an annualized yield of 3.68% based on the December 15, 2025 stock price. The dividend is set to be paid on January 30, 2026, to shareholders recorded by January 15, 2026, reflecting the company’s ongoing commitment to returning value to its investors.

The most recent analyst rating on (CAC) stock is a Buy with a $48.00 price target. To see the full list of analyst forecasts on Camden National stock, see the CAC Stock Forecast page.