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Camden National Corp. (CAC)
NASDAQ:CAC
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Camden National
(NASDAQ:CAC)
Rating:70Neutral
Price Target:
$41.00
▲(8.70% Upside)
Camden National (CAC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$638.23M
Dividend Yield4.45%
Average Volume (3M)77.20K
Price to Earnings (P/E)12.0
Beta (1Y)1.06
Revenue Growth22.21%
EPS Growth6.20%
CountryUS
Employees586
SectorFinancial
Sector Strength71
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.89
Shares Outstanding16,920,277
10 Day Avg. Volume106,426
30 Day Avg. Volume77,197
Financial Highlights & Ratios
PEG Ratio0.54
Price to Book (P/B)1.17
Price to Sales (P/S)2.15
P/FCF Ratio11.26
Enterprise Value/Market Cap2.00
Enterprise Value/Revenue4.15
Enterprise Value/Gross Profit7.14
Enterprise Value/Ebitda20.84
Forecast
1Y Price Target
$42.50Price Target Upside12.67% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Camden National Business Overview & Revenue Model
Company DescriptionCamden 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 MoneyCamden National generates revenue primarily through interest income from loans and fees associated with banking services. The key revenue streams include interest earned on commercial and consumer loans, residential mortgages, and investment securities. Additionally, the bank earns non-interest income from service fees on deposit accounts, wealth management services, and various transactional fees. Significant partnerships with local businesses and community organizations enhance its customer base and contribute to its earnings by fostering long-term relationships and promoting community investment initiatives.
Camden National Earnings Call Summary
Earnings Call Date:Jul 29, 2025
(Q2-2025)
| % Change Since: -9.02%|
Next Earnings Date:Nov 04, 2025
Earnings Call Sentiment Positive
The earnings call reflects a strong quarter with significant achievements in earnings growth, acquisition integration, and digital innovation. Despite some credit challenges and elevated provision expenses, the overall financial health and strategic positioning of the company remain strong.Q2-2025 Updates
Positive Updates
Strong Quarterly Earnings
Reported strong quarterly earnings of $14.1 million, with diluted earnings per share of $0.83. On a non-GAAP basis, adjusted earnings were $15.2 million or $0.89 per share.
Successful Acquisition Integration
Completed the acquisition of Northway Financial, leading to a 13% increase in pretax pre-provision income excluding merger-related expenses from the prior quarter. Achieved 3% increase in tangible book value.
Improved Efficiency and Revenue Growth
Net interest margin expanded by two basis points, and the non-GAAP efficiency ratio improved to 55.5%. Total revenues for the second quarter grew 4% over the last quarter to $62.3 million.
Growth in Wealth Management and Fee Revenue
Fiduciary and brokerage fee income grew 16% year over year, and significant success in growing and diversifying fee revenue.
Advancements in Digital Innovation
Successful launch of new mobile app features, including the roundup feature and Zogo, a digital financial literacy program. Over 140,000 roundup transactions and 13,000 learning activities completed.
Negative Updates
Credit Challenges
A commercial borrower filed for bankruptcy, requiring additional provisioning. The loan was placed on nonaccrual status, impacting net interest income by about a basis point.
Decrease in Average Deposits
Average deposits were down 1% on a linked quarter basis due to seasonal trends.
Elevated Provision Expenses
Provision expenses were elevated at $6.9 million due to the commercial borrower bankruptcy, increasing the allowance coverage ratio by 12 basis points to 1.08%.
Company Guidance
During the Camden National Corporation's Second Quarter 2025 Earnings Conference Call, the company reported strong financial performance following the acquisition of Northway Financial. Key metrics included a 13% rise in pretax pre-provision income excluding merger-related expenses, quarterly earnings of $14.1 million, and diluted earnings per share of $0.83. On a non-GAAP basis, adjusted earnings were $15.2 million or $0.89 per share. The tangible common equity ratio expanded to 6.77%, and the tangible book value increased by 3% to $26.9 per share. The net interest margin expanded by two basis points, reaching 3.06% on a GAAP basis, and the non-GAAP efficiency ratio improved to 55.5%. Noninterest income for the quarter was $13.1 million, exceeding guidance, while noninterest expense, excluding M&A costs, decreased to $36.2 million. The company also addressed a commercial borrower bankruptcy, which led to additional provisioning, but overall credit quality remained strong with past due loans at eight basis points and non-performing loans at 37 basis points of total loans. The company anticipates continued earnings growth and margin expansion through 2025, supported by strategic investments and market expansion.Camden National Financial Statement Overview
Summary
Camden National demonstrates strong profitability with a solid net profit margin of 17.57% and improved return on equity at 7.35%. However, increasing leverage and a decline in operating cash flow present some concerns.Income Statement
Camden National shows a stable revenue base with a slight annual revenue decline followed by a recovery. The TTM gross profit margin is strong at 93.28%, and the net profit margin stands at a solid 17.57%. However, recent EBIT and EBITDA margins showed a decline from previous years, reflecting potential pressures on operating efficiency.75
Positive
Balance Sheet
The balance sheet reveals a healthy equity ratio of 9.19% for TTM, indicating a stable capital structure. However, the debt-to-equity ratio has increased to 0.98 in the TTM period, suggesting rising leverage which could pose risks if not managed prudently. Return on equity has improved to 7.35% in the TTM, indicating better profitability for shareholders.70
Positive
Cash Flow
Cash flow analysis highlights a positive free cash flow growth, though there is a notable decline in operating cash flow over the TTM. The operating cash flow to net income ratio is at 0.91, reflecting adequate cash generation relative to net income. However, a decline in free cash flow to net income ratio to 0.87 in the TTM period suggests potential liquidity challenges.65
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 307.47M | 289.72M | 250.32M | 208.89M | 193.91M | 203.94M |
| Gross Profit | 178.61M | 172.11M | 156.07M | 179.29M | 186.05M | 170.63M |
| EBITDA | 61.20M | 69.33M | 57.80M | 81.16M | 91.00M | 78.91M |
| Net Income | 47.06M | 53.00M | 43.38M | 61.44M | 69.01M | 59.49M |
Balance Sheet | ||||||
| Total Assets | 6.96B | 5.81B | 5.71B | 5.67B | 5.50B | 4.90B |
| Cash, Cash Equivalents and Short-Term Investments | 1.04B | 792.76M | 725.61M | 771.30M | 1.73B | 1.26B |
| Total Debt | 628.73M | 544.95M | 529.94M | 309.51M | 255.94M | 246.77M |
| Total Liabilities | 6.32B | 5.27B | 5.22B | 5.22B | 4.96B | 4.37B |
| Stockholders Equity | 640.05M | 531.23M | 495.06M | 451.28M | 541.29M | 529.31M |
Cash Flow | ||||||
| Free Cash Flow | 37.42M | 55.36M | 64.89M | 103.00M | 140.86M | 15.30M |
| Operating Cash Flow | 44.21M | 60.93M | 67.51M | 105.18M | 142.72M | 18.23M |
| Investing Cash Flow | 97.08M | 30.33M | -7.03M | -487.72M | -649.09M | -294.45M |
| Financing Cash Flow | -98.59M | 23.90M | -36.10M | 237.34M | 581.23M | 346.36M |
Camden National Technical Analysis
Negative
37.72
Price Trends
39.86
Negative
39.39
Negative
41.25
Negative
Market Momentum
-1.08
Positive
41.02
Neutral
27.86
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CAC, the sentiment is Negative. The current price of 37.72 is below the 20-day moving average (MA) of 39.47, below the 50-day MA of 39.86, and below the 200-day MA of 41.25, indicating a bearish trend. The MACD of -1.08 indicates Positive momentum. The RSI at 41.02 is Neutral, neither overbought nor oversold. The STOCH value of 27.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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
Overall Rating
UnderperformOutperform
Sector (67)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $649.00M | 9.77 | 11.48% | 2.79% | 4.55% | 16.84% | |
73 Outperform | $636.14M | 13.12 | 6.92% | 0.41% | 17.31% | 251.27% | |
73 Outperform | $675.13M | 13.00 | 6.84% | 4.18% | 7.82% | 170.93% | |
71 Outperform | $633.71M | 9.96 | 14.39% | 3.33% | 3.17% | -1.53% | |
70 Neutral | $638.23M | 11.96 | 8.47% | 4.45% | 22.21% | 6.20% | |
67 Neutral | $17.22B | 11.28 | 10.45% | 3.94% | 10.30% | 1.07% | |
60 Neutral | $796.16M | ― | 0.44% | 1.89% | -6.88% | -131.00% |
* Financial Sector Average
Performance Comparison
CAC
Camden National
37.72
3.10
8.95%
GSBC
Great Southern Bancorp
57.29
3.46
6.43%
HBNC
Horizon Bancorp
15.31
1.63
11.92%
IBCP
Independent Bank
30.60
-0.40
-1.29%
AMTB
Amerant Bancorp
19.07
-0.46
-2.36%
NBBK
NB Bancorp, Inc.
17.39
-0.15
-0.86%
Camden National Corporate Events
Dividends
Camden National Announces Quarterly Dividend of $0.42
Positive
Jun 24, 2025
On June 24, 2025, Camden National Corporation announced a quarterly dividend of $0.42 per share, resulting in an annualized dividend yield of 4.23% based on the June 23, 2025 closing stock price. The dividend is payable on July 31, 2025, to shareholders of record on July 15, 2025, reflecting the company’s commitment to providing value to its shareholders.
The most recent analyst rating on (CAC) stock is a Hold with a $42.00 price target. To see the full list of analyst forecasts on Camden National stock, see the CAC Stock Forecast page.
Executive/Board ChangesShareholder Meetings
Camden National Holds Annual Shareholders Meeting
Neutral
May 23, 2025
On May 20, 2025, Camden National held its Annual Meeting of Shareholders at the Hanley Center in Rockport, Maine, and virtually, where 83% of eligible votes were represented. During the meeting, shareholders elected twelve directors to the Board for a one-year term, approved an amendment to the 2022 Equity and Incentive Plan, endorsed executive compensation, and ratified the appointment of RSM US LLP as the independent auditor for 2025.
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.
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.