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what it is
Camden National is a Maine-based bank that takes deposits, makes loans, and sells wealth advice through branches and apps.
how it gets paid
Last year Cac made $42M in revenue. net interest income was the main engine at $24.8M, or 59% of sales.
why it's growing
Revenue grew 17.0% last year. That is a sharp rebound against annual revenue of $42 million and trailing EPS of $3.53.
what just happened
Revenue hit $30M, up 188% vs. prior year, while EPS climbed to $2.51.
At a glance
B+ balance sheet — decent shape, but not bulletproof
75/100 earnings predictability — reasonably predictable
12.9x trailing p/e — the market's not buying it — or you found a deal
3.7% dividend yield — cash in your pocket every quarter
$3.62 fy2024 eps est
xvary composite: 65/100 — average
What they do
Camden National is a Maine-based bank that takes deposits, makes loans, and sells wealth advice through branches and apps.
This is a local bank with digital tools, not a national giant with a stadium name. Camden sits on $5.40 billion of deposits and $4.97 billion of loans, which means your checking account and your neighbor’s mortgage already live in the same system. Switching costs (changing banks is a paperwork headache) are boring, but boring keeps customers put.
How they make money
$42M
annual revenue · their business grew +17.0% last year
net interest income
$24.8M
+17.0%
wealth and trust services
$6.7M
+8.0%
service charges and deposit fees
$4.6M
+5.0%
mortgage banking and consumer lending fees
$3.8M
+12.0%
treasury management and business banking fees
$2.1M
+10.0%
The products that matter
core lending and deposits
Commercial & consumer banking
$68.1M net interest income
This is the center of gravity. If you strip away the labels, you are owning a balance-sheet business that borrows through deposits and earns the spread on loans.
main profit engine
investment and trust services
Wealth management
$6.8M in revenue mix
This is the cleaner fee stream. It matters because fee income is less tied to the Fed than lending income is. It does not matter enough yet to change the whole story.
small fee base
digital service layer
Digital banking platform
not separately broken out
Management cited digital launches as part of recent performance. The problem is that this dataset does not break out the dollars, so you should treat it as support for retention, not a new profit pillar.
useful, not proven
Key numbers
$3.62
fy2024 eps est
$6M
fy2024 rev est
12.9x
trailing p/e
3.7%
dividend yield
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 2 — safer than 80% of stocks
- price stability 70 / 100
- long-term debt $44M (5% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for CAC right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Revenue hit $30M, up 188% vs. prior year, while EPS climbed to $2.51.
That is a sharp rebound against annual revenue of $42 million and trailing EPS of $3.53. Quiet part out loud: one quarter did a lot of the emotional heavy lifting.
$30M
revenue
$2.51
eps
n/a
n/a
the number that mattered
Revenue growth of 188% mattered most because it dwarfed the full-year growth rate of 17.0%, which tells you momentum improved fast.
source: company earnings report, 2026
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What could go wrong
CAC is not exposed to every possible risk under the sun. It is exposed to a few very bank-specific ones, and the biggest one is simple: when roughly 85% of your revenue mix comes from net interest income, rates and funding costs stop being background details.
med
Rate moves hit the main engine
Net interest income was $68.1M in the latest quarter and dominated the revenue mix. If spreads compress, the whole income statement feels it. There is no giant fee business here to hide behind.
So what: your income thesis depends on margin discipline more than headline loan growth.
med
The footprint is local by design
Camden National operates in the Northeast, with Maine and New Hampshire doing most of the heavy lifting. Local knowledge helps. Local downturns hurt. A regional bank does not get to average away local problems the way a national bank can.
So what: if the local economy softens, loan quality and deposit growth get pressured at the same time.
med
Big-bank competition is real
The products are not exotic. Deposits, loans, trust services, digital access. Larger banks offer the same menu with more scale and more marketing dollars. Regional banks win on service and relationships until they don't.
So what: if deposit pricing gets aggressive, a 12.9x multiple stops looking cheap and starts looking correct.
The quiet part loud: this is a stability stock. If the bank stops looking stable, the valuation does not offer much protection.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
Q1 2026 earnings on May 5, 2026
Consensus sits at $1.27 EPS and $66.3M in revenue. If they clear that without drama, the steady-income case stays alive.
mix
Whether net interest income still does almost all the work
The current mix shows roughly 85% coming from net interest income. If that share stays this high, every rate move keeps outsized power over your thesis.
capital return
Actual buyback execution after the 850,000-share authorization
Authorization is step one. Real repurchases are step two. You want to see whether management actually uses the 5% float authorization.
expansion risk
New Hampshire hiring translating into real growth
Adding commercial bankers sounds encouraging. The useful proof is loan and deposit growth from that market over the next two quarters.
Analyst rankings
earnings predictability
75 / 100
in human-speak, analysts see a bank that usually lands near expectations.
valuation
12.9x trailing p/e
cheap-looking multiples are common in regional banking. The question is whether earnings stay steady enough to deserve even this one.
income profile
3.7% yield
you own this for the combination of dividend and durability, not because the market expects a dramatic growth phase.
source: institutional data
Institutional activity
institutional ownership data for CAC is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$45
current price
n/a
target midpoint · n/a from current
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