Camden National (CAC) AI Stock Analysis

• Market Cap: $824.62M
• Dividend Yield: 3.66%
• Average Volume (3M): 75.77K
• Price to Earnings (P/E): 12.7
• Beta (1Y): 0.91
• 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: 16,922,226
• 10 Day Avg. Volume: 103,617
• 30 Day Avg. Volume: 75,767
• PEG Ratio: 0.54
• Price to Book (P/B): 1.17
• Price to Sales (P/S): 2.15
• P/FCF Ratio: 11.26
• Enterprise Value/Market Cap: 1.67
• Enterprise Value/Revenue: 3.99
• Enterprise Value/Gross Profit: 6.63
• Enterprise Value/Ebitda: 17.62
• 1Y Price Target: $50.00
• Price Target Upside: 1.65% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 75 Outperform
• Price Target: $53.00 ▲(7.75% Upside)
• Action: Upgraded Date: 01/27/26
• Date: Action: Upgraded 01/27/26

The score is driven primarily by stable financial performance with strong profitability and improved free-cash-flow metrics, supported by positive technical momentum (price above major moving averages with a positive MACD). Valuation is also supportive given the moderate P/E and solid dividend yield, while earnings call guidance is constructive but tempered by normalization in noninterest income and near-term loan growth/funding sensitivity.

Positive Factors

Margin Strength

Sustained high net and interest margins indicate the bank earns durable spread income from its loan-heavy model. NIM expansion and strong profitability provide recurring earnings power, supporting reinvestment, dividends and buybacks even with modest loan growth.

Capital and Loss-Absorption

Healthy reserves and capital ratios give the bank the capacity to absorb credit shocks and pursue measured growth. Robust coverage (6.4x) and capital above targets support lending flexibility, regulatory compliance and the ability to return capital through dividends/repurchases.

Diversified Fee Growth & Digital Adoption

Meaningful wealth AUA growth and rising digital engagement broaden fee revenue and client relationships beyond traditional lending. Digital product adoption and new offerings increase cross-sell opportunities, customer stickiness and long-term noninterest income diversification.

Negative Factors

Slowing Revenue and Modest Loan Outlook

A declining revenue-growth trend plus guidance for flat-to-low loan growth imply limited top-line expansion ahead. With core lending central to the model, constrained loan growth will cap interest income upside and make earnings improvements more reliant on margins or fee expansion.

Low Operating Cash Conversion

Very low OCF-to-net-income suggests earnings are not converting efficiently into operating cash, raising questions about earnings quality and the durability of free cash flow. That can constrain internal funding for loans, capital returns, or cushion during credit stress.

CRE Office Loan Exposure

A realized CRE office loss highlights exposure to structurally weak office markets. Continued softness could drive further charge-offs or higher reserves, pressuring capital and credit margins, and limiting the bank's appetite for commercial lending in affected sectors.

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

Financial statements reflect solid overall health: strong profitability (net margin 20.63%, EBITDA margin 35.82%), manageable leverage for a bank (debt-to-equity 1.11) and a solid equity base (equity ratio 9.69%). Cash generation improved materially (free cash flow growth 193.17%, FCF-to-net income 80.45%), but revenue growth is declining (-4.71%) and operating cash flow conversion is low (OCF-to-net income 4.78%), which keeps the score from being higher.

Income Statement

Camden National's income statement shows a mixed performance. The TTM data indicates a decline in revenue growth rate by 4.71%, which is concerning. However, the company maintains a strong net profit margin of 20.63% and a healthy EBITDA margin of 35.82%. The gross profit margin has decreased significantly compared to previous years, indicating potential cost management issues.

Balance Sheet

The balance sheet reflects a stable financial position with a debt-to-equity ratio of 1.11, which is manageable for a regional bank. The return on equity is 9.16%, showing a slight decline but still reasonable. The equity ratio stands at 9.69%, indicating a solid equity base relative to total assets.

Cash Flow

Cash flow analysis reveals a robust free cash flow growth rate of 193.17% in the TTM period, suggesting improved cash generation capabilities. The operating cash flow to net income ratio is low at 4.78%, indicating potential inefficiencies in converting income into cash. However, the free cash flow to net income ratio is strong at 80.45%, highlighting effective cash management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	345.48M	289.72M	250.32M	208.89M	193.91M	203.94M
Gross Profit	207.99M	172.11M	156.07M	179.29M	186.05M	170.63M
EBITDA	78.28M	69.33M	57.80M	81.16M	91.00M	78.91M
Net Income	57.27M	53.00M	43.38M	61.44M	69.01M	59.49M
Balance Sheet
Total Assets	6.98B	5.81B	5.71B	5.67B	5.50B	4.90B
Cash, Cash Equivalents and Short-Term Investments	988.61M	792.76M	725.61M	771.30M	1.73B	1.26B
Total Debt	810.93M	544.95M	529.94M	309.51M	255.94M	246.77M
Total Liabilities	6.31B	5.27B	5.22B	5.22B	4.96B	4.37B
Stockholders Equity	676.44M	531.23M	495.06M	451.28M	541.29M	529.31M
Cash Flow
Free Cash Flow	80.38M	55.36M	64.89M	103.00M	140.86M	15.30M
Operating Cash Flow	86.35M	60.93M	67.51M	105.18M	142.72M	18.23M
Investing Cash Flow	-76.80M	30.33M	-7.03M	-487.72M	-649.09M	-294.45M
Financing Cash Flow	-50.22M	23.90M	-36.10M	237.34M	581.23M	346.36M

Camden National Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 49.19
• 50DMA: Positive
• 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 Positive. The current price of 49.19 is above the 20-day moving average (MA) of 48.81, above the 50-day MA of 46.27, and above the 200-day MA of 40.71, indicating a bullish trend. The MACD of 1.07 indicates Positive momentum. The RSI at 56.38 is Neutral, neither overbought nor oversold. The STOCH value of 21.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CAC.

Camden National Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HTBK	79 Outperform	$825.51M	17.30	6.26%	4.16%	8.23%	-0.07%
IBCP	79 Outperform	$751.74M	11.11	14.51%	3.09%	4.29%	10.56%
MPB	76 Outperform	$770.08M	13.11	7.31%	2.58%	12.09%	-15.97%
CAC	75 Outperform	$824.62M	12.69	9.49%	3.66%	24.08%	9.83%
ORRF	70 Outperform	$733.54M	9.00	14.59%	2.93%	47.65%	101.00%
MCBS	69 Neutral	$835.15M	10.98	15.62%	3.55%	-0.23%	10.95%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

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.

Camden National Boosts Presence with Northway Acquisition

Camden National Corporation recently completed the acquisition of Northway Financial, which closed on January 2, 2025, with systems conversion in March 2025. This strategic move is expected to bolster Camden National’s presence in Northern New England, with anticipated cost savings and earnings per share accretion. The company is also focusing on digital innovation, with significant increases in digital account origination and customer engagement, enhancing operational efficiency and customer service through AI-driven solutions.

The most recent analyst rating on (CAC) stock is a Buy with a $43.00 price target. To see the full list of analyst forecasts on Camden National stock, see the CAC Stock Forecast page.

Camden National Completes Northway Financial Acquisition

Camden National Corporation recently completed the acquisition of Northway Financial, which was finalized on January 2, 2025, with systems conversion in March 2025. The acquisition is expected to enhance Camden National’s presence in Northern New England, with significant cost savings and increased earnings per share anticipated. The company’s strategic objectives include expanding commercial banking, bolstering wealth management, and leveraging digital innovations to drive growth and operational excellence.

The most recent analyst rating on (CAC) stock is a Buy with a $43.00 price target. To see the full list of analyst forecasts on Camden National stock, see the CAC Stock Forecast page.