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Camden National
(NASDAQ:CAC)
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Rating:75Outperform
Price Target:
$66.00
â–²(20.81% Upside)
Action:Reiterated
Date:08/07/26
CAC scores well due to solid financial performance (strong profitability and a notable TTM cash-flow rebound) and supportive technical momentum (price above key moving averages with positive MACD). The latest earnings call adds upside through record results and constructive NIM guidance with strong credit quality. The main restraint on the score is valuation, with a relatively higher P/E for the group despite a moderate dividend yield.
Positive Factors
Free Cash Flow Strength
Sustained, high free cash flow conversion provides durable funding for dividends, buybacks, investments and capital buffers. With FCF near 94% of net income, the bank has recurring internal liquidity to support strategic initiatives and shareholder returns through economic cycles.
Negative Factors
Revenue Moderation
Trailing revenue contraction indicates top-line pressure despite pockets of fee strength. If sustained, slower revenue growth limits operating leverage and constrains margin expansion, making profit growth more dependent on cost control and selective balance-sheet expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Strength
Sustained, high free cash flow conversion provides durable funding for dividends, buybacks, investments and capital buffers. With FCF near 94% of net income, the bank has recurring internal liquidity to support strategic initiatives and shareholder returns through economic cycles.
Read all positive factors
Camden National (CAC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$976.48M
Dividend Yield2.91%
Average Volume (3M)75.77K
Price to Earnings (P/E)11.0
Beta (1Y)0.85
Revenue Growth12.80%
EPS Growth65.27%
CountryUS
Employees683
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)5.24
Shares Outstanding16,897,049
10 Day Avg. Volume103,617
30 Day Avg. Volume75,767
Financial Highlights & Ratios
PEG Ratio1.86
Price to Book (P/B)1.05
Price to Sales (P/S)1.99
P/FCF Ratio12.55
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$56.50Price Target Upside3.42% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)5.39
Revenue Forecast (FY)$270.58M
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 in t...
How the Company Makes Money
Camden National primarily makes money through (1) net interest income and (2) noninterest income. Net interest income is earned from the spread between interest income generated on interest-earning assets—mainly loans (such as commercial and indus...
Camden National Earnings Call Summary
Earnings Call Date:Jul 28, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Positive
The call emphasized multiple record and improving performance metrics (record net income and EPS, fee income up 21% QoQ, loan pipeline +45% QoQ, HELOC +23% YoY, strong credit metrics and capital accretion). Management acknowledged rising operating expenses, some mark/BOLI income volatility, a moderate increase in provisions, and plans for measured loan growth and selective M&A. Overall the positives — including revenue growth, profitability, balance sheet strength, and tangible book value expansion — materially outweigh the manageable challenges.Positive Updates
Record Quarterly Net Income and EPS
Reported record net income of $23.0 million and record diluted EPS of $1.35 for Q2 2026, both up 5% versus Q1 2026; first six months net income totaled $44.9 million and diluted EPS $2.64.
Negative Updates
Rising Noninterest Expense
Noninterest expense totaled $37.4 million, up 5% QoQ, driven by annual salary increases, timing of director equity grants, and recognition events; management projects Q3 noninterest expense of $37.0–$38.0 million.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Quarterly Net Income and EPS
Reported record net income of $23.0 million and record diluted EPS of $1.35 for Q2 2026, both up 5% versus Q1 2026; first six months net income totaled $44.9 million and diluted EPS $2.64.
Read all positive updates
Company Guidance
Management guided to modest margin improvement in Q3—forecasting additional NIM expansion of roughly 5–10 basis points off a Q2 NIM of 3.26% (core NIM 2.97%, net fair‑value accretion income $4.0M) driven by seasonal deposit inflows and reinvestment of lower‑yielding assets; Q2 net interest income was $52.9M. They gave ranges for Q3 noninterest income of $13.5–$14.0M (Q2 noninterest income $14.5M) and noninterest expense of $37–$38M (Q2 expense $37.4M), and said loan growth should be measured in Q3 despite a committed loan pipeline up 45% QoQ to $185.7M. For context, Q2 produced record net income of $23.0M ($1.35 diluted EPS), YTD net income $44.9M ($2.64 EPS), total assets $7.0B, deposits $5.6B (loan‑to‑deposit 90%), loans +1% QoQ (3% annualized), HELOCs +23% YoY with average funding time down to 14 days, allowance for credit losses 0.91% of loans (ACL coverage 3.8x NPLs), NPLs 24 bps, ROTAE 18.47% and a non‑GAAP efficiency ratio of 53.2%.Camden National Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
67
Positive
Cash Flow
79
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 346.14M | 367.34M | 289.72M | 250.32M | 208.89M | 193.91M |
| Gross Profit | 233.35M | 230.62M | 172.11M | 156.07M | 179.29M | 186.05M |
| EBITDA | 98.00M | 91.54M | 69.33M | 57.80M | 81.16M | 91.00M |
| Net Income | 88.66M | 65.16M | 53.00M | 43.38M | 61.44M | 69.01M |
Balance Sheet | ||||||
| Total Assets | 6.95B | 6.97B | 5.81B | 5.71B | 5.67B | 5.50B |
| Cash, Cash Equivalents and Short-Term Investments | 99.90M | 1.03B | 792.76M | 725.61M | 771.30M | 1.73B |
| Total Debt | 571.05M | 644.29M | 544.95M | 529.94M | 309.51M | 255.94M |
| Total Liabilities | 6.23B | 6.28B | 5.27B | 5.22B | 5.22B | 4.96B |
| Stockholders Equity | 725.93M | 696.56M | 531.23M | 495.06M | 451.28M | 541.29M |
Cash Flow | ||||||
| Free Cash Flow | 120.75M | 58.20M | 55.36M | 64.89M | 103.00M | 140.86M |
| Operating Cash Flow | 128.01M | 63.91M | 60.93M | 67.51M | 105.18M | 142.72M |
| Investing Cash Flow | 7.66M | -56.41M | 30.33M | -7.03M | -487.72M | -649.09M |
| Financing Cash Flow | -113.34M | -124.97M | 23.90M | -36.10M | 237.34M | 581.23M |
Camden National Technical Analysis
Positive
54.63
Price Trends
53.54
Positive
50.82
Positive
46.97
Positive
Market Momentum
1.62
Negative
60.30
Neutral
67.77
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 54.63 is below the 20-day moving average (MA) of 56.15, above the 50-day MA of 53.54, and above the 200-day MA of 46.97, indicating a bullish trend. The MACD of 1.62 indicates Negative momentum. The RSI at 60.30 is Neutral, neither overbought nor oversold. The STOCH value of 67.77 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 |
|---|---|---|---|---|---|---|---|
81 Outperform | $838.32M | 9.15 | 14.46% | 2.68% | -0.52% | 98.41% | |
77 Outperform | $952.60M | 12.70 | 8.02% | 2.45% | 20.29% | 19.48% | |
75 Outperform | $976.48M | 11.03 | 12.62% | 3.08% | 12.80% | 65.27% | |
75 Outperform | $844.24M | 10.93 | 14.12% | 2.87% | 0.24% | 12.12% | |
68 Neutral | $1.02B | 12.24 | 14.19% | 2.84% | 17.78% | 11.89% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
CAC
Camden National
57.79
21.42
58.90%
MPB
Mid Penn Bancorp
37.60
11.02
41.45%
ORRF
Orrstown Financial Services
42.62
11.44
36.69%
IBCP
Independent Bank
38.03
8.39
28.32%
MCBS
MetroCity Bankshares
35.74
9.26
34.99%
Camden National Corporate Events
Business Operations and StrategyExecutive/Board Changes
Camden National realigns leadership to bolster commercial banking
Positive
Jul 6, 2026
On June 30, 2026, Camden National Corporation named Katherine W. Brunelle executive vice president and chief credit officer, effective July 1, 2026, succeeding Ryan A. Smith, who moved into the role of executive vice president, commercial banking....
Business Operations and StrategyDividends
Camden National Declares Quarterly Dividend, Signals Ongoing Stability
Positive
Jun 30, 2026
On June 30, 2026, Camden National Corporation’s board declared a quarterly cash dividend of $0.42 per share, reflecting the company’s ongoing capital return strategy to shareholders. Based on the June 29, 2026 closing price of $53.96 p...
Business Operations and StrategyFinancial Disclosures
Camden National Unveils Investor Presentation Highlighting Strategic Growth
Positive
Jun 18, 2026
The company has prepared a new investor presentation for upcoming meetings, outlining its strategic objectives, financial profile, and competitive positioning in the Maine and New Hampshire community banking markets as of 2025–2026. Camden N...
Executive/Board ChangesShareholder Meetings
Camden National Shareholders Approve Directors, Pay and Auditor
Positive
May 21, 2026
At Camden National Corporation’s 2026 Annual Meeting of Shareholders, held virtually on May 19, 2026, approximately 83% of eligible votes were represented, and investors elected eleven directors to the board for one-year terms. Shareholders ...
Business Operations and StrategyExecutive/Board Changes
Camden National Announces Retirement of Chief Technology Officer
Neutral
May 11, 2026
On May 6, 2026, Camden National Corporation announced that Executive Vice President and Chief Technology Officer William H. Martel plans to retire from his role effective July 31, 2026. The planned departure of the company’s top technology e...
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.