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    Camden National (CAC)

    Market Price (9/5/2026): $58.19 | Market Cap: $983.8 MilSector: Financials | Industry: Regional Banks

    Camden National (CAC)

    Market Price (9/5/2026): $58.19
    Market Cap: $983.8 Mil
    Sector: Financials
    Industry: Regional Banks

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

    0

    Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 2.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.6%, FCF Yield is 10%

    Cash is significant % of market cap
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -66%

    Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 42%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 40%

    Low stock price volatility
    Vol 12M is 28%

    Megatrend and thematic drivers
    Megatrends include Fintech & Digital Payments, and Cybersecurity. Themes include Online Banking & Lending, Digital Payments, Show more.

    Trading close to highs
    Dist 52W High is -2.7%, Dist 3Y High is -2.7%

    Key risks
    CAC key risks include none of the company-specific factors listed, Show more.

    0 Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 2.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.6%, FCF Yield is 10%
    1 Cash is significant % of market cap
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -66%
    2 Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 42%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 40%
    3 Low stock price volatility
    Vol 12M is 28%
    4 Megatrend and thematic drivers
    Megatrends include Fintech & Digital Payments, and Cybersecurity. Themes include Online Banking & Lending, Digital Payments, Show more.
    5 Trading close to highs
    Dist 52W High is -2.7%, Dist 3Y High is -2.7%
    6 Key risks
    CAC key risks include none of the company-specific factors listed, Show more.

    CAC in ETFs

    Weight = CAC's share of each fund

    VTI0.00%
    ITOT0.00%
    IWM0.03%
    KRE0.18%
    ESML0.17%
    AVUV0.07%
    IWN0.06%
    VTWO0.03%
    +5 more covered ETFs

    Valuation & Metrics

    FYE: 12/31CAC [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$257.8 Mil—
    FY 2026 Sales$270.1 Mil—
    FY 2027 Sales$284.9 Mil—
    FY 2026 Sales Growth4.8%—
    FY 2027 Sales Growth5.5%13.1%
    EARNINGS
    LTM Net Income (GAAP) [3]$88.7 Mil—
    FY 2026 Net Income (Non-GAAP)$91.8 Mil—
    FY 2027 Net Income (Non-GAAP)$98.5 Mil—
    FY 2027 Net Income Growth7.2%18.5%
    FY 2026 EPS (Non-GAAP)$5.40—
    FY 2027 EPS (Non-GAAP)$5.80—
    FY 2027 EPS Growth7.4%—
    VALUATION
    FY 2026 P/S3.61.7
    FY 2027 P/S3.5—
    FY 2026 P/E10.77.8
    FY 2027 P/E10.0—

    [1] CAC forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
    [2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 9/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
    [3] LTM = reported trailing-twelve-month actuals (GAAP).
    CACS&P 500
    REVENUE GROWTHGOOD
    Rev LTM ($ Bil)0.3
    Rev Chg Q8.5%9.3%
    Rev Chg LTM23.5%8.3%
    Rev Chg 3Y Avg15.4%5.9%
    PROFITABILITYVERY GOOD
    Op Inc LTM ($ Bil)�
    CFO LTM ($ Bil)0.1
    Net Inc LTM ($ Bil)0.1
    CFO/Rev LTM41.9%21.9%
    Net Inc Mgn34.4%13.1%
    VALUATIONLOW
    P/S3.83.3
    P/CFO9.115.6
    P/FCF9.620.0
    P/E11.123.1

    AI Analysis | Feedback

    MetricValueDateSource
    Assets Under Administration2.4 billion9302025Link
    Number of Banking Centers7210282025Link
    Number of ATMs761022025Link
    Loan-to-Deposit Ratio93%9302025Link
    Non-Performing Assets to Total Assets Ratio0.12%9302025Link
    Efficiency Ratio (non-GAAP)52.47%9302025Link
    Number of Employees650+1022025Link
    Number of Customers Added Through Acquisition5500010162015Link

    Price Chart

    No Events

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 9/1/2026

    Camden National (CAC) stock has gained about 15% since 5/31/2026 because of the following key factors:

    1. Strong Q2 2026 Earnings Beat and Improved Profitability.

    Camden National reported record net income of $23.0 million and diluted earnings per share of $1.35 for fiscal Q2 2026, significantly surpassing analyst expectations of $1.29 per share by $0.06. This strong performance was also driven by a notable increase in net interest income and a sharp reduction in the provision for credit losses to $710,000 in fiscal Q2 2026 from $6,920,000 a year prior.

    2. Expansion of Net Interest Margin (NIM) and Lower Funding Costs.

    The company experienced an improvement in its net interest margin, which increased by two basis points quarter-over-quarter to 3.26% in fiscal Q2 2026, primarily due to lower funding costs. Management indicated expectations for further core margin expansion in fiscal Q3 2026.

    Show more
    Updated on 9/1/2026

    Camden National (CAC) stock has gained about 15% since 5/31/2026 because of the following key factors:

    1. Strong Q2 2026 Earnings Beat and Improved Profitability.

    Camden National reported record net income of $23.0 million and diluted earnings per share of $1.35 for fiscal Q2 2026, significantly surpassing analyst expectations of $1.29 per share by $0.06. This strong performance was also driven by a notable increase in net interest income and a sharp reduction in the provision for credit losses to $710,000 in fiscal Q2 2026 from $6,920,000 a year prior.

    2. Expansion of Net Interest Margin (NIM) and Lower Funding Costs.

    The company experienced an improvement in its net interest margin, which increased by two basis points quarter-over-quarter to 3.26% in fiscal Q2 2026, primarily due to lower funding costs. Management indicated expectations for further core margin expansion in fiscal Q3 2026.

    3. Robust Loan Growth and Strong Credit Quality.

    Camden National demonstrated healthy loan portfolio growth in fiscal Q2 2026, with total loans increasing by 1% (approximately 3% annualized), led by home equity and commercial loans. The committed loan pipeline also saw substantial growth, rising 45% quarter-over-quarter to $185.7 million. This growth was coupled with strong asset quality, evidenced by low nonperforming loans at 24 basis points of total loans.

    4. Positive Analyst Sentiment and Price Target Upgrades.

    Several analysts raised their price targets and reiterated positive ratings for Camden National during the period. Raymond James Financial upgraded its price target from $56.00 to $58.00 with an "outperform" rating on July 1, 2026, and Keefe, Bruyette & Woods increased its target from $50.00 to $55.00 on July 30, 2026. The consensus analyst rating remained "Hold" with an average price target of $55.25, but the upgrades contributed to positive investor perception.

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    Stock Movement Drivers

    Fundamental Drivers

    The 17.2% change in CAC stock from 5/31/2026 to 9/4/2026 was primarily driven by a 9.0% change in the company's Net Income Margin (%).
    (LTM values as of)53120269042026Change
    Stock Price ($)49.6458.1717.2%
    Change Contribution By: 
    Total Revenues ($ Mil)2532582.0%
    Net Income Margin (%)31.6%34.4%9.0%
    P/E Multiple10.511.15.3%
    Shares Outstanding (Mil)17170.1%
    Cumulative Contribution17.2%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    5/31/2026 to 9/4/2026
    ReturnCorrelation
    CAC17.2% 
    Market (SPY)1.8%5.9%
    Sector (XLF)12.6%49.6%

    Fundamental Drivers

    The 28.1% change in CAC stock from 2/28/2026 to 9/4/2026 was primarily driven by a 37.0% change in the company's Net Income Margin (%).
    (LTM values as of)22820269042026Change
    Stock Price ($)45.4258.1728.1%
    Change Contribution By: 
    Total Revenues ($ Mil)22825813.0%
    Net Income Margin (%)25.1%34.4%37.0%
    P/E Multiple13.411.1-17.4%
    Shares Outstanding (Mil)17170.1%
    Cumulative Contribution28.1%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    2/28/2026 to 9/4/2026
    ReturnCorrelation
    CAC28.1% 
    Market (SPY)12.6%21.0%
    Sector (XLF)13.6%46.9%

    Fundamental Drivers

    The 47.5% change in CAC stock from 8/31/2025 to 9/4/2026 was primarily driven by a 46.1% change in the company's Net Income Margin (%).
    (LTM values as of)83120259042026Change
    Stock Price ($)39.4358.1747.5%
    Change Contribution By: 
    Total Revenues ($ Mil)20925823.5%
    Net Income Margin (%)23.5%34.4%46.1%
    P/E Multiple13.611.1-18.2%
    Shares Outstanding (Mil)17170.0%
    Cumulative Contribution47.5%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    8/31/2025 to 9/4/2026
    ReturnCorrelation
    CAC47.5% 
    Market (SPY)20.4%26.4%
    Sector (XLF)8.9%49.6%

    Fundamental Drivers

    The 102.0% change in CAC stock from 8/31/2023 to 9/4/2026 was primarily driven by a 47.3% change in the company's Total Revenues ($ Mil).
    (LTM values as of)83120239042026Change
    Stock Price ($)28.8058.17102.0%
    Change Contribution By: 
    Total Revenues ($ Mil)17525847.3%
    Net Income Margin (%)31.3%34.4%9.9%
    P/E Multiple7.711.144.8%
    Shares Outstanding (Mil)1517-13.9%
    Cumulative Contribution102.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    8/31/2023 to 9/4/2026
    ReturnCorrelation
    CAC102.0% 
    Market (SPY)77.1%39.6%
    Sector (XLF)76.6%57.5%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    CAC Return39%-10%-5%19%6%36%103%
    Peers Return24%-3%-7%16%6%20%65%
    S&P 500 Return27%-19%24%23%16%13%106%

    Monthly Win Rates [3]
    CAC Win Rate75%33%50%58%50%78% 
    Peers Win Rate60%47%40%48%55%71% 
    S&P 500 Win Rate75%42%67%75%67%56% 

    Max Drawdowns [4]
    CAC Max Drawdown-13%-19%-34%-23%-22%-11% 
    Peers Max Drawdown-23%-22%-41%-22%-25%-13% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: INDB, EBC, WBS, NBTB, CBU.
    [3] Win Rate = % of calendar months in which monthly returns were positive
    [4] Max drawdown represents maximum peak-to-trough decline within a year
    [5] 2026 data is for the year up to 9/4/2026 (YTD)

    How Low Can It Go

    EventCACS&P 500
    2025 US Tariff Shock
      % Loss-18.7%-18.8%
      % Gain to Breakeven23.0%23.1%
      Time to Breakeven247 days79 days
    Summer-Fall 2023 Five Percent Yield Shock
      % Loss-20.2%-9.5%
      % Gain to Breakeven25.3%10.5%
      Time to Breakeven42 days24 days
    2023 SVB Regional Banking Crisis
      % Loss-29.7%-6.7%
      % Gain to Breakeven42.3%7.1%
      Time to Breakeven439 days31 days
    2022 Inflation Shock & Fed Tightening
      % Loss-15.0%-24.5%
      % Gain to Breakeven17.6%32.4%
      Time to Breakeven761 days427 days
    2020 COVID-19 Crash
      % Loss-42.3%-33.7%
      % Gain to Breakeven73.4%50.9%
      Time to Breakeven326 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-19.7%-19.2%
      % Gain to Breakeven24.6%23.8%
      Time to Breakeven44 days105 days

    Compare to INDB, EBC, WBS, NBTB, CBU

    In The Past

    Camden National's stock fell -18.7% during the 2025 US Tariff Shock. Such a loss loss requires a 23.0% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    EventCACS&P 500
    Summer-Fall 2023 Five Percent Yield Shock
      % Loss-20.2%-9.5%
      % Gain to Breakeven25.3%10.5%
      Time to Breakeven42 days24 days
    2023 SVB Regional Banking Crisis
      % Loss-29.7%-6.7%
      % Gain to Breakeven42.3%7.1%
      Time to Breakeven439 days31 days
    2020 COVID-19 Crash
      % Loss-42.3%-33.7%
      % Gain to Breakeven73.4%50.9%
      Time to Breakeven326 days140 days
    2011 US Debt Ceiling Crisis & European Contagion
      % Loss-20.9%-17.9%
      % Gain to Breakeven26.4%21.8%
      Time to Breakeven85 days123 days
    2010 Eurozone Sovereign Debt Crisis / Flash Crash
      % Loss-24.4%-15.4%
      % Gain to Breakeven32.3%18.2%
      Time to Breakeven89 days125 days
    2008-2009 Global Financial Crisis
      % Loss-43.7%-53.4%
      % Gain to Breakeven77.5%114.4%
      Time to Breakeven38 days1085 days

    Compare to INDB, EBC, WBS, NBTB, CBU

    In The Past

    Camden National's stock fell -18.7% during the 2025 US Tariff Shock. Such a loss loss requires a 23.0% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    About Camden National (CAC)

    Camden National Corporation (CAC) operates as the holding company for Camden National Bank, providing a comprehensive suite of commercial and consumer banking products and services. Its fundamental offerings include accepting a variety of deposits such as checking, savings, time, and brokered accounts. On the lending side, the company finances non-owner-occupied and owner-occupied commercial real estate, unsecured commercial loans backed by the U.S. Small Business Administration, residential mortgages for one-to four-family properties, and consumer and home equity loans.

    Beyond traditional banking, Camden National expands its financial services to include brokerage and insurance, offering solutions for college, retirement, and estate planning, as well as mutual funds and annuities. The company also specializes in wealth management, providing fiduciary, asset management, investment management, financial planning, and trustee services. Camden National serves a diverse clientele including consumers, institutions, municipalities, non-profits, and commercial customers, primarily operating through 57 branches across Maine, with additional presences in Massachusetts and New Hampshire.

    AI Analysis | Feedback

    Here are a few analogies for Camden National (CAC):

    • Think of it as a regional JPMorgan Chase for Maine and parts of New England.
    • Like a smaller Bank of America, providing comprehensive financial services primarily across Maine.
    • The full-service community bank of Maine, similar to a local version of Wells Fargo.

    AI Analysis | Feedback

    • Deposit Accounts: Offers various types of checking, savings, time, and brokered deposit accounts for consumers and businesses.
    • Loans: Provides diverse loan products including commercial real estate, SBA, residential mortgage, consumer, and home equity loans.
    • Brokerage and Insurance Services: Delivers financial planning and product offerings such as mutual funds, asset management accounts, and annuities.
    • Wealth Management and Trust Services: Manages assets, provides financial planning, and offers fiduciary and trustee services.

    AI Analysis | Feedback

    Camden National Corporation (CAC) serves a diverse customer base encompassing both individuals and various types of organizations. Given the company's offering of extensive "consumer banking products and services" alongside commercial offerings, it serves a significant number of individual customers, making it appropriate to describe its major customer categories.

    The major customer categories for Camden National (CAC) are:

    1. Individual Consumers: This category includes individuals utilizing a wide range of personal banking services such as checking, savings, and time deposits. They also secure loans for one-to four-family properties, consumer loans, and home equity loans. Furthermore, individual consumers are customers for brokerage and insurance services, including college, retirement, and estate planning, as well as wealth management, investment management, and financial planning services.
    2. Commercial Businesses: This segment comprises various businesses, from small to larger enterprises, that seek non-owner-occupied and owner-occupied commercial real estate loans, as well as unsecured fully-guaranteed commercial loans, often backed by the U.S. Small Business Administration. These customers also utilize commercial deposit products and other business banking solutions.
    3. Institutional, Municipal, and Non-Profit Organizations: Camden National provides banking products and services to a variety of institutional entities, local government bodies, and non-profit organizations. These offerings include various deposit accounts and specialized fiduciary, asset management, and trustee services tailored to meet the unique financial needs of these organizations.

    AI Analysis | Feedback

    Fiserv (FI)

    AI Analysis | Feedback

    Simon Griffiths, President and Chief Executive Officer

    Simon Griffiths was appointed President and Chief Executive Officer of Camden National Corporation and Camden National Bank in January 2024, having joined as Executive Vice President & Chief Operating Officer around November 2023. Prior to Camden National, he served as Executive Vice President and Head of Core Banking at Citizens Bank, where he managed retail and business banking channels, including nearly 1,200 branches. He joined Citizens Bank in 2015 from Santander Bank, where he was Executive Vice President and Managing Director of the Retail Network for six years. Griffiths began his banking career in 2002 at Washington Mutual Bank, which was later acquired by JP Morgan Chase in 2008, where he gained significant leadership experience in operations, sales, and service over his 12-year tenure.

    Michael Archer, Executive Vice President, Chief Financial Officer

    Michael Archer was named Executive Vice President, Chief Financial Officer for Camden National Corporation and Camden National Bank, effective January 3, 2022. In this role, he serves as the company's principal financial and accounting officer, overseeing accounting, treasury, and financial planning and analysis. He joined Camden National in October 2013 and previously served as Senior Vice President and Corporate Controller for over eight years. Before his time at Camden National Bank, Archer spent seven years at PricewaterhouseCoopers, LLP. He is a Certified Public Accountant (CPA).

    William Martel, Executive Vice President, Chief Technology Officer

    William Martel serves as Executive Vice President of Technology & Support Services and Chief Technology Officer for Camden National Corporation and Camden National Bank. He joined the executive team in March 2020. Previously, Martel was the Head of U.S. Operations Technology for Santander U.S. in Boston, where he led the banking operation's technology transformation. He also held several senior management positions within the technology organization at TD Canada. Martel started his banking career as a senior branch manager for People's Heritage Bank.

    Ryan Smith, Executive Vice President, Chief Credit Officer

    Ryan Smith is the Executive Vice President and Chief Credit Officer of Camden National Bank, a role he assumed in December 2023. He is responsible for managing the bank's credit group, underwriting process, and policies. Smith has been with Camden National Bank since May 2012, initially leading commercial banking efforts in Central and Southern Maine. He also led the Treasury Management group and served as Director of Commercial Banking for Central and Midcoast Maine. Prior to joining Camden National Bank, Smith spent over 10 years in commercial banking and credit roles at institutions including People's United Bank/Maine Bank & Trust, and began his career at Ford Motor Credit Company.

    Patricia Rose, Executive Vice President, Retail and Mortgage Banking

    Patricia Rose is the Executive Vice President of Retail and Mortgage Banking at Camden National Bank, a position she has held since September 2017. She is responsible for retail, business, and mortgage banking strategies, including the management of the bank's banking centers. Rose brings over 30 years of experience in retail banking across various New England markets. Her previous roles include Head of Strategic Onboarding & Orientation at Citizens Bank for two years and Director-level roles in Retail Network Sales & Strategy at Santander Bank for six years. She also held various leadership positions and served as Market President of Retail Banking in Eastern Massachusetts and New Hampshire at Fleet Bank and Sovereign Bank.

    AI Analysis | Feedback

    The key risks to Camden National Corporation's business include:

    1. Intensified Competition and Interest Rate Sensitivity

    Camden National Corporation faces significant risks from intensified competition within the banking sector, which can lead to a decline in its deposit base and a softening of demand for its loan products. The bank's average interest rate on savings accounts has been noted as lower than national competitors, highlighting competitive pressures on deposits. Furthermore, as a traditional bank heavily reliant on net interest income, which constituted 79% of its total revenue in 2025, Camden National is highly sensitive to fluctuations in interest rates. While higher rates can boost lending earnings, prolonged high rates can strain current borrowers and deter new loan demand, impacting the bank's profitability. The Federal Reserve's actions to raise rates have generally "stressed the banking industry".

    2. Commercial Real Estate (CRE) Exposure

    The banking industry, including regional banks, faces concerns regarding commercial real estate debt, with a substantial amount expected to mature by 2028 and require refinancing at potentially higher interest rates. While Maine banks are generally viewed as conservative, the potential for turbulence in the commercial real estate sector is considered a "front and center" issue. Camden National's loan portfolio, valued at $4.9 billion as of June 30, 2025, could be susceptible to concentration risk, and the bank increased its allowance for credit losses in the first quarter of 2025 due to evolving economic forecasts, which may implicitly reflect concerns around loan quality, including potentially in the CRE sector.

    3. Integration Risks from Acquisitions

    Camden National completed the acquisition of Northway Financial, Inc. on January 2, 2025, significantly expanding its assets and branch network. While strategic acquisitions aim for growth and synergies, they inherently carry risks such as challenges in integrating systems, reconciling different organizational cultures, potential customer disruption, and the loss of key talent. The integration process has already led to "notable increase in expenses" during the first quarter of 2025, directly impacting the company's net income. These short-term costs and operational complexities represent a tangible risk during the post-acquisition period.

    AI Analysis | Feedback

    The continued rise and innovation of digital-only banks, online lenders, and fintech companies that offer core banking, lending, and wealth management services with lower overhead and often superior digital user experiences, posing a direct competitive threat to Camden National's deposit base, loan origination market share, and financial services clientele.

    AI Analysis | Feedback

    Addressable Markets for Camden National (CAC)

    For the public company Camden National (symbol: CAC), the estimated addressable market sizes for its main products and services are as follows, with the respective regions clarified:

    • Commercial Banking:
      • U.S. Commercial Banking Market Size: The U.S. commercial banking market size is estimated at USD 765.53 billion in 2026.
      • Maine Banking Industry Deposits: The banking industry in Maine had total deposits exceeding $44 billion as of June 2025.
      • New Hampshire Banking Industry Deposits: Banks in New Hampshire held $47.7 billion in deposits in 2024.
    • Consumer Banking (including deposits and general consumer loans):
      • U.S. Retail Banking Market Size: The United States retail banking market was valued at USD 870 billion in 2025 and is estimated to grow to USD 906.3 billion in 2026.
    • Commercial Real Estate Loans:
      • U.S. Commercial Lending Market Size (encompassing various commercial loan types, including real estate): The global commercial lending market size was valued at USD 10,923.28 billion in 2025 and is projected to grow to USD 11,864.16 billion in 2026.
      • Maine Residential and Commercial Real Estate Loans: Maine banks provided $2.3 billion in residential and commercial real estate loans, according to a 2025 survey.
      • New Hampshire Real Estate Loans & Collateralized Debt: The market size for real estate loans and collateralized debt in New Hampshire is $625.7 million in 2026.
    • Residential Mortgages and Home Equity Loans:
      • U.S. Single-Family Mortgage Origination Volume: Total single-family mortgage origination volume in the U.S. is expected to increase to $2.2 trillion in 2026 from $2.0 trillion in 2025.
      • Maine New Home Loans Booked: New home loans booked in Maine amounted to $3.4 billion in 2024.
      • New Hampshire New Home Loans Booked: New home loans booked in New Hampshire totaled $4.3 billion in 2024.
      • Boston (MA-NH MSA) Mortgage Market: The Boston-Cambridge-Newton, MA-NH, MSA is projected to have $46.1 billion in total mortgage volume (combined purchase and refinance loans) in 2026.
    • Wealth Management, Investment Management, Financial Planning, Brokerage, and Fiduciary/Trustee Services:
      • U.S. Private Banking Market Size: The United States private banking market is valued at USD 59.54 billion in 2025 and is expected to reach USD 94.89 billion by 2030.
      • North America Wealth Management Platform Market Size: The wealth management platform market in North America had a valuation of USD 1.26 billion in 2025 and USD 1.4 billion in 2026.
      • U.S. Investment Banking Market: The U.S. investment banking market stands at USD 54.74 billion in 2025.

    AI Analysis | Feedback

    Camden National Corporation (CAC) is expected to drive future revenue growth over the next 2-3 years through a combination of strategic expansion, organic growth in core banking activities, and efficient financial management. Here are the key drivers:
    1. Strategic Expansion through Acquisitions: The acquisition of Northway Financial, Inc. in early 2025 significantly bolstered Camden National's presence in New Hampshire and expanded its total assets to approximately $7.0 billion and its branch network to 72 locations across Maine and New Hampshire. This strategic move is expected to increase the company's size, scale, and market share, driving enhanced profitability and shareholder value.
    2. Organic Loan and Deposit Growth: Camden National anticipates mid-single-digit loan growth for the full year 2026, supported by healthy pipelines. Furthermore, the company forecasts low to mid-single-digit deposit growth for 2026, with a focus on non-maturity deposits such as high-yield savings and interest-checking products. This organic expansion in its core lending and deposit-gathering activities will directly contribute to net interest income.
    3. Net Interest Margin (NIM) Expansion and Efficient Funding Cost Management: The company has demonstrated net interest margin expansion and projects further expansion by 2-3 basis points in Q1 2026, alongside a projected decrease in funding costs by 7-10 basis points. Efficient management of interest income on earning assets and a reduction in the cost of interest-bearing liabilities are expected to continue boosting net interest income.
    4. Enhanced Digital Banking and Customer Engagement: Camden National emphasizes its commitment to relationship banking complemented by investment in digital platforms like MortgageTouch, BusinessTouch, and TreasuryLink. The company has seen increased digital engagement among younger customers, indicating that its digital initiatives are attracting and retaining a broader customer base, which can lead to increased product utilization and new fee-based service opportunities.
    5. Growth in Wealth Management and Fee-Based Services: While net interest income is the primary revenue stream, contributing 79% of total revenue in 2025, Camden National also leverages diversified fee-based services, including wealth management, brokerage, and advisory. Continued growth and strategic emphasis on these non-interest income streams can further diversify and contribute to overall revenue growth.

    AI Analysis | Feedback

    Share Repurchases

    • In January 2026, Camden National's board of directors authorized a new share repurchase program for up to 850,000 shares of its common stock, representing approximately 5% of its issued and outstanding shares as of December 31, 2025.
    • In January 2024, the Board of Directors approved a common stock repurchase program, authorizing the repurchase of up to 750,000 shares, or approximately 5% of the Company's outstanding common stock.
    • As of December 31, 2024, the company had repurchased 50,000 shares at an average price of $32.19 under the 2024 program.

    Share Issuance

    • The number of shares outstanding for Camden National increased from 14.52 million in 2024 to 16.95 million in 2025. This increase occurred in conjunction with the acquisition of Northway Financial completed in January 2025.

    Outbound Investments

    • On January 2, 2025, Camden National completed the acquisition of Northway Financial, which added approximately $1.2 billion of total assets, $971.9 million of deposits, and 17 New Hampshire branches, expanding its network to 72 branches across Northern New England.

    Capital Expenditures

    • Capital expenditures for Camden National were approximately -$1.85 million in FY 2021, -$2.18 million in FY 2022, -$2.62 million in FY 2023, and -$5.58 million in FY 2024.
    • As of September 30, 2025 (TTM), capital expenditures were approximately -$5.97 million.

    Peer Outperformance in Regional Banks

    CAC has trailed 59% of its 264 Regional Banks peers over 5Y. Regional Banks ranks 6th of 18 industries in Financials by median 5Y return.
    Share of Regional Banks constituents that CAC has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
    1Y
    87%
    of 286 industry peers · 47.1% return
    3Y
    64%
    of 276 industry peers · 102.7% return
    5Y
    41%
    of 264 industry peers · 53.3% return
    null
    Median price return by industry across the Financials sector, ranked by 5Y. Regional Banks is CAC's own industry. Use this to see which corners of the sector have carried the returns.
    Industry Names 1Y med3Y med5Y med Top 3 by 5Y
    Investment Banking & Brokerage 13 6.6%134.5%144.9% IBKR 490% · SNEX 242% · GS 185%
    Reinsurance 6 21.1%85.6%126.7% SPNT 159% · RGA 139% · MTG 128%
    Diversified Banks 12 39.4%134.4%120.7% CM 156% · JPM 155% · RY 144%
    Life & Health Insurance 20 15.5%59.4%96.9% JXN 516% · UNM 322% · FG 229%
    Multi-Sector Holdings 6 3.6%49.0%78.9% JONE 361% · JEF 85% · BRK-B 80%
    Regional Banks ← 265 26.4%85.6%67.5% GCBC 376% · ESQ 355% · VBNK 328%
    Property & Casualty Insurance 42 9.7%75.4%66.9% ASIC 2739900% · HRTG 433% · UVE 298%
    Multi-line Insurance 9 11.9%88.2%55.2% GNW 184% · L 103% · SLF 94%
    Consumer Finance 30 8.4%86.8%36.7% ENVA 593% · EZPW 384% · FCFS 172%
    Insurance Brokers 16 -11.5%2.5%25.4% LIFE 626% · AJG 90% · ARX 89%
    Asset Management & Custody Banks 82 -10.3%17.5%21.7% WT 331% · SII 299% · VCTR 291%
    Financial Exchanges & Data 15 -0.4%21.5%21.3% VIRT 214% · CBOE 152% · CME 78%
    Diversified Financial Services 4 -2.0%1.9%14.0% FRHC 159% · EQH 93% · TMS -65%
    Commercial & Residential Mortgage Finance 12 -35.6%24.0%6.0% FNMA 492% · FMCC 472% · ESNT 64%
    Specialized Finance 3 16.1%48.5%-9.8% EFC 36% · CACC -10% · HASI -19%
    Mortgage REITs 33 -10.6%12.5%-12.9% NREF 56% · RITM 52% · DX 40%
    Transaction & Payment Processing Services 15 4.3%-0.1%-38.5% MA 75% · V 73% · CPAY 59%
    Diversified Capital Markets 21 -20.2%2.3%-43.4% BTCS 629% · OPY 198% · LPLA 145%
    Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

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    Peer Comparisons

    Peers to compare with:

    Financials

    CACINDBEBCNBTBCBUBHBMedian
    NameCamden N.Independ.Eastern .NBT Banc.Communit.Bar Harb. 
    Mkt Price58.1783.9022.2452.2763.8540.3955.22
    Mkt Cap1.04.04.92.73.40.73.0
    Rev LTM2589901,115740860193800
    Op Inc LTM-------
    FCF LTM10330438524624757246
    FCF 3Y Avg6525130119621848207
    CFO LTM10832240626230864285
    CFO 3Y Avg7126931721025955234

    Growth & Margins

    CACINDBEBCNBTBCBUBHBMedian
    NameCamden N.Independ.Eastern .NBT Banc.Communit.Bar Harb. 
    Rev Chg LTM23.5%41.2%84.4%19.4%10.2%30.9%27.2%
    Rev Chg 3Y Avg15.4%11.5%54.6%13.3%9.7%8.3%12.4%
    Rev Chg Q8.5%39.5%26.8%9.1%12.2%43.7%19.5%
    QoQ Delta Rev Chg LTM2.0%7.7%6.2%2.1%2.9%8.5%4.6%
    Op Inc Chg LTM-------
    Op Inc Chg 3Y Avg-------
    Op Mgn LTM-------
    Op Mgn 3Y Avg-------
    QoQ Delta Op Mgn LTM-------
    CFO/Rev LTM41.9%32.5%36.5%35.4%35.8%33.1%35.6%
    CFO/Rev 3Y Avg34.2%34.1%41.8%32.7%32.9%34.0%34.0%
    FCF/Rev LTM39.8%30.7%34.6%33.2%28.7%29.6%31.9%
    FCF/Rev 3Y Avg31.6%31.7%39.7%30.6%27.8%29.3%31.1%

    Valuation

    CACINDBEBCNBTBCBUBHBMedian
    NameCamden N.Independ.Eastern .NBT Banc.Communit.Bar Harb. 
    Mkt Cap1.04.04.92.73.40.73.0
    P/S3.84.14.43.73.93.53.9
    P/Op Inc-------
    P/EBIT-------
    P/E11.114.912.912.714.713.713.3
    P/CFO9.112.511.910.410.910.610.7
    Total Yield11.9%9.6%10.2%10.7%9.7%10.5%10.3%
    Dividend Yield2.9%2.8%2.4%2.8%2.9%3.2%2.9%
    FCF Yield 3Y Avg9.6%8.8%8.9%9.0%7.3%9.7%9.0%
    D/E0.30.20.10.10.20.40.2
    Net D/E-0.7-0.2-0.0-0.1-0.7-0.4-0.3

    Returns

    CACINDBEBCNBTBCBUBHBMedian
    NameCamden N.Independ.Eastern .NBT Banc.Communit.Bar Harb. 
    1M Rtn-2.0%-2.1%-4.1%-1.0%-3.4%0.5%-2.1%
    3M Rtn16.1%6.2%12.0%13.5%1.1%13.3%12.7%
    6M Rtn28.7%10.4%18.0%27.6%10.1%30.2%22.8%
    12M Rtn47.1%20.3%30.9%21.2%8.3%29.4%25.3%
    3Y Rtn102.7%71.0%76.7%70.9%54.9%84.8%73.8%
    1M Excs Rtn-1.0%-0.2%-3.5%-0.5%-2.4%1.3%-0.8%
    3M Excs Rtn11.6%1.7%7.5%9.0%-3.4%8.8%8.1%
    6M Excs Rtn14.2%-4.1%3.5%13.0%-4.5%15.7%8.3%
    12M Excs Rtn28.4%1.6%12.2%2.5%-10.4%10.7%6.6%
    3Y Excs Rtn30.4%2.9%8.3%-0.6%-19.2%14.8%5.6%

    Comparison Analyses

    null

    Financials

    $ Mil | FY: 12/312026Q22026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q3
    Period End6/30/20263/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/2023
    Filing Date8/6/20265/7/20263/6/202611/6/20258/7/20255/8/20253/7/202511/7/20248/8/20245/8/20243/8/202411/7/2023
    Key Financials Quarterly            
    Total Revenue666366636158464442413736
    Net Income2322232114715131213810
    EPS1.361.291.341.250.840.431.010.900.820.910.580.67
    Key Financials TTM            
    Total Revenue TTM258253248228209190173164156156156165
    Net Income TTM898065574947534744444350
    Growth Rates Quarterly            
    Total Revenue Growth8.5%7.5%43.6%44.4%45.8%41.5%23.8%20.1%-0.0%0.3%-18.4%-21.9%
    Net Income Growth63.5%198.7%53.8%62.1%17.4%-44.8%72.9%33.6%-3.2%4.3%-44.8%-31.4%
    Margins Quarterly            
    Net Income Margin35.0%34.9%34.0%33.7%23.3%12.6%31.7%30.0%28.9%32.2%22.7%26.9%
    Cash & Debt            
    Total Cash9751,0161,0079679531,034809718661754726742
    Total Debt325313390556420386369369392444329304
    Net Debt / (Cash)-650-704-617-411-532-648-439-348-268-310-396-438
    Cash Flows Quarterly            
    FCF from Operations312021366143-151418-1147
    Cash Flows TTM            
    FCF from Operations TTM108836486364461668716899
    Returns to Shareholders Quarterly            
    Dividends777777666666
    Share Repurchases21-0-0-0-0-0-0-0-0-0-0
    Return on Invested Capital (ROIC) Quarterly            
    ROIC------------
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM------------

    Segment Financials

    Revenue by Segment
    $ Mil20252024202320222021
    Single Segment248173156184183
    Total248173156184183


    Price Behavior

    Price Behavior
    Market Price$58.17 
    Market Cap ($ Bil)1.0 
    First Trading Date10/08/1997 
    Distance from 52W High-2.7% 
       50 Days200 Days
    DMA Price$56.16$48.96
    DMA Trendupup
    Distance from DMA3.6%18.8%
     3M1YR
    Volatility22.0%27.6%
    Downside Capture-7.6055.60
    Upside Capture62.1588.77
    Correlation (SPY)1.4%26.9%
    CAC Betas & Captures as of 8/31/2026

     1M2M3M6M1Y3Y
    Beta0.630.370.070.350.570.83
    Up Beta1.32-0.08-0.580.160.460.84
    Down Beta-0.46-0.69-0.32-0.250.260.65
    Up Capture9%81%72%75%83%85%
    Bmk +ve Days10213268138427
    Stock +ve Days9213570131382
    Down Capture83%85%16%49%66%96%
    Bmk -ve Days11213259113324
    Stock -ve Days12212957119367

    [1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
    Based On 1-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with CAC
    CAC47.3%27.6%1.38-
    Sector ETF (XLF)8.8%14.6%0.3549.4%
    Equity (SPY)19.7%12.8%1.1326.2%
    Gold (GLD)24.6%29.2%0.75-6.6%
    Commodities (DBC)44.1%20.4%1.69-27.5%
    Real Estate (VNQ)9.1%13.6%0.3933.4%
    Bitcoin (BTCUSD)-26.9%43.8%-0.5911.5%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 5-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with CAC
    CAC8.7%29.9%0.30-
    Sector ETF (XLF)10.1%18.4%0.4154.6%
    Equity (SPY)12.8%17.2%0.5738.7%
    Gold (GLD)19.1%18.8%0.82-2.4%
    Commodities (DBC)10.7%19.5%0.433.6%
    Real Estate (VNQ)1.7%18.9%-0.0138.3%
    Bitcoin (BTCUSD)10.6%52.6%0.3817.6%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 10-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with CAC
    CAC10.5%32.0%0.38-
    Sector ETF (XLF)13.6%22.1%0.5665.4%
    Equity (SPY)15.3%17.9%0.7248.1%
    Gold (GLD)12.4%16.3%0.62-6.8%
    Commodities (DBC)7.9%18.1%0.3513.3%
    Real Estate (VNQ)4.8%20.7%0.1945.6%
    Bitcoin (BTCUSD)64.0%66.2%1.0415.8%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Short Interest

    Short Interest: As Of Date8142026
    Short Interest: Shares Quantity0.7 Mil
    Short Interest: % Change Since 73120262.9%
    Average Daily Volume0.1 Mil
    Days-to-Cover Short Interest8.3 days
    Basic Shares Quantity16.9 Mil
    Short % of Basic Shares3.9%

    Returns Analyses

    Earnings Returns History

    Updated 8/28/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    7/28/20265.5%8.2%2.8%
    4/28/20260.5%-4.6%-0.6%
    1/27/20260.4%4.2%2.2%
    10/28/20251.6%3.7%11.9%
    7/29/2025-10.2%-10.6%-1.6%
    5/6/2025-0.6%3.5%-2.0%
    1/28/20252.2%-0.1%-2.0%
    10/29/20241.8%1.2%15.4%
    ...
    SUMMARY STATS   
    # Positive121111
    # Negative121313
    Median Positive1.9%3.5%5.7%
    Median Negative-1.6%-1.6%-2.0%
    Max Positive5.5%14.3%21.0%
    Max Negative-10.2%-11.0%-16.3%
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    7/28/20265.5%8.2%2.8%
    4/28/20260.5%-4.6%-0.6%
    1/27/20260.4%4.2%2.2%
    10/28/20251.6%3.7%11.9%
    7/29/2025-10.2%-10.6%-1.6%
    5/6/2025-0.6%3.5%-2.0%
    1/28/20252.2%-0.1%-2.0%
    10/29/20241.8%1.2%15.4%
    7/30/20243.3%-7.7%-1.6%
    4/30/20243.5%6.4%5.7%
    1/30/2024-1.3%-11.0%-16.3%
    10/31/20232.3%14.3%21.0%
    7/25/2023-0.2%1.5%-4.1%
    4/25/2023-2.9%-4.4%-4.5%
    1/31/20231.6%0.5%-0.4%
    10/25/2022-2.7%-0.8%-0.8%
    7/26/2022-1.9%-0.8%1.5%
    4/26/2022-0.0%-4.4%-7.3%
    1/25/20222.0%-0.9%-5.7%
    10/26/2021-3.1%-0.4%0.7%
    7/27/2021-1.3%-1.6%3.5%
    4/27/2021-0.2%2.2%-1.7%
    1/26/20210.6%1.2%13.5%
    10/27/2020-3.0%-0.7%14.8%
    SUMMARY STATS   
    # Positive121111
    # Negative121313
    Median Positive1.9%3.5%5.7%
    Median Negative-1.6%-1.6%-2.0%
    Max Positive5.5%14.3%21.0%
    Max Negative-10.2%-11.0%-16.3%

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    06/30/202608/06/202610-Q
    03/31/202605/07/202610-Q
    12/31/202503/06/202610-K
    09/30/202511/06/202510-Q
    06/30/202508/07/202510-Q
    03/31/202505/08/202510-Q
    12/31/202403/07/202510-K
    09/30/202411/07/202410-Q
    06/30/202408/08/202410-Q
    03/31/202405/08/202410-Q
    12/31/202303/08/202410-K
    09/30/202311/07/202310-Q
    06/30/202308/09/202310-Q
    03/31/202305/09/202310-Q
    12/31/202203/10/202310-K
    09/30/202211/03/202210-Q
     Collapse to Preview
    Report DateFiling DateFiling
    06/30/202608/06/202610-Q
    03/31/202605/07/202610-Q
    12/31/202503/06/202610-K
    09/30/202511/06/202510-Q
    06/30/202508/07/202510-Q
    03/31/202505/08/202510-Q
    12/31/202403/07/202510-K
    09/30/202411/07/202410-Q
    06/30/202408/08/202410-Q
    03/31/202405/08/202410-Q
    12/31/202303/08/202410-K
    09/30/202311/07/202310-Q
    06/30/202308/09/202310-Q
    03/31/202305/09/202310-Q
    12/31/202203/10/202310-K
    09/30/202211/03/202210-Q
    06/30/202208/04/202210-Q
    03/31/202205/05/202210-Q
    12/31/202103/11/202210-K
    09/30/202111/04/202110-Q
    06/30/202108/05/202110-Q
    03/31/202105/06/202110-Q
    12/31/202003/15/202110-K
    09/30/202011/05/202010-Q
    06/30/202008/10/202010-Q
    03/31/202005/07/202010-Q
    12/31/201903/11/202010-K
    09/30/201911/07/201910-Q

    Camden National — Investor Video Playlist

    Industry Resources

    External Quote Links


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    Core Cache Last Updated: 9/4/2026