Camden National (CAC)


Market Price (10/22/2026): $56.41 | Market Cap: $953.7 MilSector: Financials | Industry: Regional Banks

Camden National (CAC)


Market Price (10/22/2026): $56.41
Market Cap: $953.7 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 3.0%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.9%, FCF Yield is 11%

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 -68%

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 26%

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 -4.9%, Dist 3Y High is -4.9%

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 3.0%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.9%, FCF Yield is 11%
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 -68%
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 26%
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 -4.9%, Dist 3Y High is -4.9%
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%
VTWO0.03%
SCHA0.02%
+5 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/1/2026

Camden National (CAC) stock has gained about 5% since 6/30/2026 because of the following key factors:

1. Strong Fiscal Second Quarter 2026 Earnings Performance.

Camden National Corporation reported record quarterly net income of $23.0 million for its fiscal second quarter of 2026, which ended on June 30, 2026. This represented a 63% increase year over year. The company's diluted earnings per share (EPS) for the quarter were $1.35, surpassing analyst consensus estimates of $1.29 by $0.06. Additionally, the net interest margin for the fiscal second quarter improved to 3.26%, reflecting an increase of 20 basis points year over year.

2. Continued Shareholder Returns with Fiscal Third Quarter 2026 Dividend Declaration.

On September 29, 2026, Camden National's board of directors declared a quarterly dividend of $0.42 per share for the fiscal third quarter of 2026, which concluded on September 30, 2026. This dividend, payable on October 30, 2026, to shareholders of record as of October 15, 2026, signaled management's confidence in the company's financial health and its ongoing commitment to providing capital returns to investors. The annualized yield based on the September 28, 2026 closing price of $57.40 was 2.93%.

Show more
Updated on 10/1/2026

Camden National (CAC) stock has gained about 5% since 6/30/2026 because of the following key factors:

1. Strong Fiscal Second Quarter 2026 Earnings Performance.

Camden National Corporation reported record quarterly net income of $23.0 million for its fiscal second quarter of 2026, which ended on June 30, 2026. This represented a 63% increase year over year. The company's diluted earnings per share (EPS) for the quarter were $1.35, surpassing analyst consensus estimates of $1.29 by $0.06. Additionally, the net interest margin for the fiscal second quarter improved to 3.26%, reflecting an increase of 20 basis points year over year.

2. Continued Shareholder Returns with Fiscal Third Quarter 2026 Dividend Declaration.

On September 29, 2026, Camden National's board of directors declared a quarterly dividend of $0.42 per share for the fiscal third quarter of 2026, which concluded on September 30, 2026. This dividend, payable on October 30, 2026, to shareholders of record as of October 15, 2026, signaled management's confidence in the company's financial health and its ongoing commitment to providing capital returns to investors. The annualized yield based on the September 28, 2026 closing price of $57.40 was 2.93%.

3. Positive Analyst Sentiment and Technical Momentum.

TipRanks' AI Analyst "Spark" issued an "Outperform" rating for Camden National stock on September 29, 2026. This positive outlook was attributed to the company's solid financial performance, including strong profitability and a notable trailing twelve-month cash-flow rebound. The analysis also cited supportive technical indicators, with the stock's price above key moving averages and a positive Moving Average Convergence Divergence (MACD), along with "record results and constructive NIM guidance with strong credit quality" from the latest earnings call.

4. Strategic Digital Investments and Deposit Growth.

Camden National introduced a refreshed digital banking experience in July 2026 and appointed Josh Nash as Chief Technology Officer in August 2026 to further its digital innovation strategy. These strategic investments, coupled with the introduction of high-yield savings products, contributed to an 11% increase in savings balances during the first six months of fiscal 2026, demonstrating effective efforts to attract and retain deposits.

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Stock Movement Drivers

Fundamental Drivers

The 5.6% change in CAC stock from 6/30/2026 to 10/21/2026 was primarily driven by a 9.0% change in the company's Net Income Margin (%).
(LTM values as of)630202610212026Change
Stock Price ($)53.3956.415.6%
Change Contribution By: 
Total Revenues ($ Mil)2532582.0%
Net Income Margin (%)31.6%34.4%9.0%
P/E Multiple11.310.8-5.1%
Shares Outstanding (Mil)17170.1%
Cumulative Contribution5.6%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/21/2026
ReturnCorrelation
CAC5.6% 
Market (SPY)3.5%17.9%
Sector (XLF)4.5%50.1%

Fundamental Drivers

The 21.7% change in CAC stock from 3/31/2026 to 10/21/2026 was primarily driven by a 31.0% change in the company's Net Income Margin (%).
(LTM values as of)331202610212026Change
Stock Price ($)46.3456.4121.7%
Change Contribution By: 
Total Revenues ($ Mil)2482583.8%
Net Income Margin (%)26.2%34.4%31.0%
P/E Multiple12.010.8-10.6%
Shares Outstanding (Mil)17170.1%
Cumulative Contribution21.7%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/21/2026
ReturnCorrelation
CAC21.7% 
Market (SPY)19.2%17.9%
Sector (XLF)13.9%48.7%

Fundamental Drivers

The 52.7% change in CAC stock from 9/30/2025 to 10/21/2026 was primarily driven by a 46.1% change in the company's Net Income Margin (%).
(LTM values as of)930202510212026Change
Stock Price ($)36.9356.4152.7%
Change Contribution By: 
Total Revenues ($ Mil)20925823.5%
Net Income Margin (%)23.5%34.4%46.1%
P/E Multiple12.710.8-15.3%
Shares Outstanding (Mil)17170.0%
Cumulative Contribution52.7%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/21/2026
ReturnCorrelation
CAC52.7% 
Market (SPY)17.0%26.3%
Sector (XLF)5.3%51.1%

Fundamental Drivers

The 129.3% change in CAC stock from 9/30/2023 to 10/21/2026 was primarily driven by a 64.3% change in the company's P/E Multiple.
(LTM values as of)930202310212026Change
Stock Price ($)24.6056.41129.3%
Change Contribution By: 
Total Revenues ($ Mil)17525847.3%
Net Income Margin (%)31.3%34.4%9.9%
P/E Multiple6.510.864.3%
Shares Outstanding (Mil)1517-13.9%
Cumulative Contribution129.3%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/21/2026
ReturnCorrelation
CAC129.3% 
Market (SPY)87.1%39.3%
Sector (XLF)76.4%57.7%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
CAC Return39%-10%-5%19%6%36%102%
Peers Return24%2%-11%15%4%19%61%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
CAC Win Rate75%33%50%58%50%70% 
Peers Win Rate60%47%38%52%55%62% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
CAC Max Drawdown-13%-19%-34%-23%-22%-11% 
Peers Max Drawdown-22%-20%-39%-21%-22%-14% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: INDB, EBC, NBTB, CBU, BHB.
[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 10/21/2026 (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, NBTB, CBU, BHB

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, NBTB, CBU, BHB

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.

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  • 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.

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Fiserv (FI)

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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.

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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.

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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 56% of its 259 Regional Banks peers over 5Y. Among the peers that beat it is AX. Regional Banks ranks 8th 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
93%
of 281 industry peers · 57.7% return
3Y
80%
of 271 industry peers · 135.3% return
5Y
44%
of 259 industry peers · 43.5% return
Regional Banks peers with revenue growth within 4pp of CAC's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
CAC Camden National 15.4% 10.8x 57.7%135.3%43.5% —
AX Axos Financial 18.0% 10.5x 14.1%151.9%70.4% +27pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
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
Reinsurance 6 29.3%70.9%117.9% SPNT 175% · RGA 150% · RNR 149%
Diversified Banks 12 28.8%148.1%90.6% CM 141% · RY 126% · JPM 124%
Life & Health Insurance 20 13.6%61.4%84.5% JXN 473% · UNM 291% · MFC 183%
Multi-Sector Holdings 4 9.7%58.8%71.2% BRK-B 88% · VOYA 54% · JEF 30%
Investment Banking & Brokerage 13 -12.1%102.8%70.1% IBKR 373% · SNEX 176% · GS 151%
Property & Casualty Insurance 42 13.6%80.6%63.8% TRV 174% · PGR 161% · ACGL 146%
Multi-line Insurance 9 7.7%67.3%58.4% GNW 98% · L 98% · AIZ 87%
Regional Banks ← 260 29.2%97.1%53.0% CBC 228% · FCNCA 161% · NIC 138%
Financial Exchanges & Data 15 7.8%36.5%29.9% CBOE 168% · VIRT 161% · CME 70%
Consumer Finance 30 -1.3%90.3%27.5% ENVA 413% · EZPW 325% · FCFS 154%
Insurance Brokers 15 -6.3%7.3%19.4% LIFE 416% · ARX 88% · AJG 66%
Diversified Financial Services 4 -4.1%22.5%5.3% FRHC 158% · EQH 83%
Asset Management & Custody Banks 84 -13.7%21.9%3.0% WT 296% · AAMI 257% · VCTR 244%
Commercial & Residential Mortgage Finance 15 -54.2%35.1%-5.8% FNMA 340% · FMCC 305% · ACT 149%
Specialized Finance 3 7.9%35.9%-12.1% CACC -12% · HASI -22%
Mortgage REITs 34 -21.7%-2.9%-35.1% RITM 25% · DX 17% · AGNC 6%
Transaction & Payment Processing Services 17 0.6%8.3%-36.6% V 84% · MA 80% · CPAY 47%
Diversified Capital Markets 20 -53.8%13.4%-63.7% LPLA 89% · TW 45% · RIOT -52%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

CACINDBEBCNBTBCBUBHBMedian
NameCamden N.Independ.Eastern .NBT Banc.Communit.Bar Harb. 
Mkt Price56.4181.1921.5251.4760.6638.6053.94
Mkt Cap1.03.94.72.73.20.62.9
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 Cap1.03.94.72.73.20.62.9
P/S3.73.94.23.63.73.33.7
P/Op Inc-------
P/EBIT-------
P/E10.814.412.512.514.013.112.8
P/CFO8.812.111.610.210.410.110.3
Total Yield12.3%9.9%10.5%10.9%10.2%11.0%10.7%
Dividend Yield3.0%2.9%2.5%2.9%3.1%3.4%3.0%
FCF Yield 3Y Avg8.7%8.8%8.1%9.0%7.0%9.1%8.8%
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-0.6%0.8%0.2%0.5%-0.7%-4.2%-0.2%
3M Rtn6.0%-4.1%-4.0%0.3%-9.0%1.8%-1.9%
6M Rtn16.0%5.3%7.8%16.9%-1.4%14.7%11.3%
12M Rtn57.7%21.6%19.1%30.6%11.4%36.0%26.1%
3Y Rtn135.3%98.4%104.6%81.9%67.7%79.9%90.1%
1M Excs Rtn1.3%3.3%2.1%2.6%0.6%-2.5%1.7%
3M Excs Rtn2.7%-6.8%-7.6%-2.3%-11.8%-1.5%-4.6%
6M Excs Rtn8.7%-2.0%0.5%9.6%-8.7%7.4%4.0%
12M Excs Rtn44.8%8.5%4.9%16.9%-2.1%22.7%12.7%
3Y Excs Rtn59.3%12.0%20.7%-3.7%-16.9%6.1%9.0%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment248173156184183
Total248173156184183


Price Behavior

Price Behavior
Market Price$56.41 
Market Cap ($ Bil)1.0 
First Trading Date10/08/1997 
Distance from 52W High-4.9% 
   50 Days200 Days
DMA Price$56.58$50.97
DMA Trendupup
Distance from DMA-0.3%10.7%
 3M1YR
Volatility20.6%26.0%
Downside Capture56.6844.21
Upside Capture76.0292.08
Correlation (S&P 500)15.6%24.2%
CAC Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta0.550.580.420.360.560.82
Up Beta-1.930.72-0.270.030.320.83
Down Beta0.17-0.05-0.26-0.440.270.65
Up Capture78%40%79%74%89%90%
Bmk +ve Days6162766132424
Stock +ve Days11203370137387
Down Capture104%96%75%67%65%96%
Bmk -ve Days16263760120328
Stock -ve Days11223156114364

[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
CAC58.8%26.0%1.73-
Sector ETF (XLF)7.5%14.4%0.2748.0%
Equity (SPY)16.2%12.7%0.9023.7%
Gold (GLD)-6.0%29.0%-0.22-4.6%
Commodities (DBC)50.2%20.7%1.85-29.9%
Real Estate (VNQ)3.1%13.8%-0.0332.9%
Bitcoin (BTCUSD)-25.3%43.4%-0.557.8%

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
CAC7.9%29.7%0.28-
Sector ETF (XLF)9.7%18.3%0.3954.1%
Equity (SPY)13.6%17.1%0.6138.3%
Gold (GLD)17.7%18.9%0.76-1.8%
Commodities (DBC)9.5%19.5%0.373.4%
Real Estate (VNQ)1.1%18.9%-0.0538.8%
Bitcoin (BTCUSD)7.6%51.7%0.3317.3%

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)13.1%22.1%0.5465.4%
Equity (SPY)15.5%17.9%0.7348.0%
Gold (GLD)12.2%16.4%0.61-6.9%
Commodities (DBC)8.2%18.1%0.3713.3%
Real Estate (VNQ)5.2%20.7%0.2145.6%
Bitcoin (BTCUSD)62.6%66.2%1.0215.7%

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

Short Interest

Short Interest: As Of Date9302026
Short Interest: Shares Quantity0.7 Mil
Short Interest: % Change Since 9152026-0.2%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest7.0 days
Basic Shares Quantity16.9 Mil
Short % of Basic Shares4.3%

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
Core Cache Last Updated: 10/21/2026