Camden National Corp. (CAC)
NASDAQ:CAC
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Camden National
(NASDAQ:CAC)
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Rating:73Outperform
Price Target:
$56.00
▲(9.37% Upside)
Action:UpgradedDate:04/29/26
The score is driven primarily by attractive valuation (low P/E with a solid dividend) and supportive technical uptrend. Financial performance is mixed—good revenue/profitability and improving leverage, but materially weaker and volatile cash flow weighs on overall quality. The latest earnings call was broadly positive with improving margin outlook and strong credit, partially offset by competition and expected expense normalization.
Positive Factors
Asset Quality
Very low NPLs, minimal net charge-offs and a near 1% ACL indicate disciplined underwriting and conservative loss reserves. This durable credit strength reduces provision volatility, supports stable earnings and preserves capital, making loan books more resilient through mild economic cycles.
Negative Factors
Weakening Cash Flow
Sharp, multi-year decline and volatility in operating and free cash flow constrains internal funding for loans, buybacks and dividends. Even with net income parity in 2025, the trend increases reliance on external funding or capital actions and raises risk around cash-based flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Asset Quality
Very low NPLs, minimal net charge-offs and a near 1% ACL indicate disciplined underwriting and conservative loss reserves. This durable credit strength reduces provision volatility, supports stable earnings and preserves capital, making loan books more resilient through mild economic cycles.
Read all positive factors
Camden National (CAC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$814.35M
Dividend Yield3.66%
Average Volume (3M)75.77K
Price to Earnings (P/E)―
Beta (1Y)0.89
Revenue Growth26.91%
EPS Growth6.01%
CountryUS
Employees586
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.29
Shares Outstanding16,976,156
10 Day Avg. Volume103,617
30 Day Avg. Volume75,767
Financial Highlights & Ratios
PEG Ratio1.85
Price to Book (P/B)1.05
Price to Sales (P/S)1.99
P/FCF Ratio12.27
Enterprise Value/Market Cap1.47
Enterprise Value/Revenue3.25
Enterprise Value/Gross Profit5.18
Enterprise Value/Ebitda13.04
Forecast
1Y Price Target
$53.00Price Target Upside3.52% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)5.41
Revenue Forecast (FY)$274.73M
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...
How the Company Makes Money
Camden National primarily makes money through (1) net interest income and (2) noninterest income. Net interest income is generated by earning interest and fees on loans and other interest-earning assets (including the loan portfolio and investment...
Camden National Earnings Call Summary
Earnings Call Date:Apr 28, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Positive
The call highlighted multiple strengths: strong profitability and capital metrics, excellent asset quality, growing wealth/AUA and operational gains from AI/automation, along with ongoing shareholder returns. Headwinds noted were seasonal softness in fees and loans, sequential NIM pressure from lower accretion, increased competition and an expected normalization of expenses in Q2. Management reiterated disciplined, organic growth and a balanced M&A posture. Overall the positives (earnings growth, capital rebuilding, asset quality and tech-enabled efficiency) materially outweigh the transitory and manageable negatives.Positive Updates
Strong Quarterly Earnings
Net income of $21.9 million and diluted EPS of $1.29; adjusted net income and adjusted diluted EPS increased 39% year-over-year excluding noncore acquisition-related items.
Negative Updates
Linked-Quarter NIM Pressure from Lower Accretion
NIM decreased 5 basis points sequentially, driven by lower fair value mark accretion income (approximately $4.3 million in the quarter; management cites ~$4.5 million as a run-rate estimate).
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Quarterly Earnings
Net income of $21.9 million and diluted EPS of $1.29; adjusted net income and adjusted diluted EPS increased 39% year-over-year excluding noncore acquisition-related items.
Read all positive updates
Company Guidance
Management's guidance included a Q2 core net interest margin expansion of 2–5 basis points (Q1 reported NIM 3.24% and core NIM 2.92%), with gradual NIM improvement expected through 2026 and potential approach to ~3.00% in the back half; fair‑value accretion ran about $4.3M this quarter. They expect Q2 noninterest income to rebound to roughly $13.0M and Q2 noninterest expense to normalize to about $37.5M (Q1 noninterest expense was $35.7M). Loan growth is expected to be low‑to‑mid single‑digit for the year (home equity +$10.6M in Q1), deposits were $5.6B (+1% q/q), AUA $2.4B (+11% y/y), tangible common equity 7.64%, tangible book value per share $30.58 (+3% q/q), and credit remains strong (NPLs 22 bps, past‑due loans 6 bps, ACL 92 bps, NCOs $506k / 4 bps).Camden National Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
66
Positive
Cash Flow
45
Neutral
| 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 | -124.97M | 23.90M | -36.10M | 237.34M | 581.23M |
Camden National Technical Analysis
Positive
51.20
Price Trends
47.63
Positive
45.81
Positive
42.08
Positive
Market Momentum
1.17
Negative
67.80
Neutral
66.84
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CAC, the sentiment is Positive. The current price of 51.2 is above the 20-day moving average (MA) of 48.32, above the 50-day MA of 47.63, and above the 200-day MA of 42.08, indicating a bullish trend. The MACD of 1.17 indicates Negative momentum. The RSI at 67.80 is Neutral, neither overbought nor oversold. The STOCH value of 66.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CAC.
Camden National Risk Analysis
Camden National disclosed 38 risk factors in its most recent earnings report. Camden National reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Camden National Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $828.43M | 12.18 | 6.83% | 4.16% | 8.23% | -0.07% | |
73 Outperform | $814.35M | ― | 11.66% | 3.66% | 26.91% | 6.01% | |
73 Outperform | $915.97M | 9.19 | 4.94% | 3.55% | 10.12% | 7.50% | |
70 Outperform | $839.74M | 21.38 | 6.26% | 2.58% | 17.28% | -22.85% | |
70 Outperform | $716.71M | 7.97 | 14.62% | 2.93% | 10.74% | 121.24% | |
70 Outperform | $688.07M | 10.15 | 14.15% | 3.09% | -0.73% | 6.41% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
CAC
Camden National
47.97
10.90
29.40%
HTBK
Heritage Commerce
13.45
4.94
58.07%
MPB
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33.14
4.94
17.53%
ORRF
Orrstown Financial Services
36.53
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25.95%
IBCP
Independent Bank
33.42
3.96
13.43%
MCBS
MetroCity Bankshares
31.96
5.35
20.11%
Camden National Corporate Events
Dividends
Camden National Declares Quarterly Dividend, Signals Ongoing Confidence
Positive
Mar 31, 2026
On March 31, 2026, Camden National Corporation announced that its board of directors declared a quarterly dividend of $0.42 per share, payable on April 30, 2026, to shareholders of record as of April 15, 2026. The payout equates to an annualized d...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.