Camden National (NASDAQ:CAC) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Key Points

• Camden National reported Q1 EPS of $1.29, beating consensus by $0.03 and delivering about 39% adjusted diluted EPS growth year‑over‑year, while revenue of $64.34M slightly missed estimates.
• Tangible book value per share rose 3% to $30.58, the company returned $8.6M via dividends and repurchases, launched an opportunistic buyback program, and declared a quarterly dividend of $0.42 (3.3% yield).
• Credit quality and margin outlook remained solid with low non‑performing loans (22 bps), an allowance of 92 bps (~4.2x coverage), reported NIM of 3.24% (core 2.92%), and management expects modest core NIM expansion through 2026.

Camden National (NASDAQ:CAC - Get Free Report) released its quarterly earnings data on Tuesday. The financial services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.03, FiscalAI reports. The business had revenue of $64.34 million for the quarter, compared to analyst estimates of $65.62 million. Camden National had a return on equity of 11.22% and a net margin of 17.46%.

Here are the key takeaways from Camden National's conference call:

• Strong Q1 results — net income of $21.9 million and EPS of $1.29, with adjusted diluted EPS up about 39% year‑over‑year excluding non‑core acquisition items.
• Capital and shareholder returns — tangible common equity at 7.64%, tangible book value per share grew 3% to $30.58, and the company returned $8.6 million via dividends and repurchases while launching an opportunistic buyback program.
• Margin outlook — reported NIM was 3.24% (core 2.92%) with fair‑value accretion ~ $4.3M this quarter, and management expects core NIM to expand ~2–5 bps in Q2 with gradual further improvement through 2026.
• Credit quality remains strong — non‑performing loans 22 bps, past due loans 6 bps, allowance 92 bps with ~4.2x coverage of NPLs, and modest net charge‑offs of $506k for the quarter.
• Digital and efficiency initiatives — internally developed AI tools (Camden IQ, Prep IQ, Loan IQ) are improving productivity and redeploying capacity, though management expects Q2 non‑interest expense to normalize to about $37.5 million due to seasonal and merit cycle costs.

Camden National Stock Up 0.5%

Camden National stock opened at $50.67 on Wednesday. The firm has a market cap of $860.38 million, a price-to-earnings ratio of 13.20 and a beta of 0.58. Camden National has a 52-week low of $35.00 and a 52-week high of $53.71. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50 day moving average price of $47.95 and a two-hundred day moving average price of $44.76.

Camden National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th will be issued a dividend of $0.42 per share. The ex-dividend date is Wednesday, April 15th. This represents a $1.68 annualized dividend and a yield of 3.3%. Camden National's dividend payout ratio (DPR) is presently 43.75%.

Key Camden National News

Here are the key news stories impacting Camden National this week:

• Positive Sentiment: EPS beat and strong profitability — Camden reported diluted EPS of $1.29, topping consensus estimates and improving significantly year-over-year; net income was $21.9M with healthy net margin and ROE, supporting investor confidence. PR Newswire Release
• Positive Sentiment: Acquisition synergies highlighted — management emphasized that last year’s acquisition is helping scale the business efficiently and accelerate growth, a catalyst for margin expansion and longer-term earnings power. Earnings Call Transcript
• Neutral Sentiment: Analyst context and outlook — coverage notes and models (Zacks) show the beat was modest and estimates for the fiscal year remain in place (Street expects about $5.43 EPS), so the move may be seen as confirmation rather than a re-rating. Zacks Analysis
• Neutral Sentiment: Market reaction context — trading volume was modestly above average and valuation metrics (P/E ~13.2, low beta) make the stock attractive to income/value investors, but these are longer-term factors. Market Data
• Negative Sentiment: Revenue missed estimates — quarterly revenue of $64.34M fell short of analyst expectations, which limits upside given the modest EPS beat and could raise questions about loan or fee growth. Yahoo Finance Article

Analysts Set New Price Targets

A number of research firms have recently weighed in on CAC. Weiss Ratings upgraded shares of Camden National from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, February 19th. National Bank Financial set a $47.00 target price on Camden National in a research report on Wednesday, January 28th. Keefe, Bruyette & Woods boosted their price target on Camden National from $45.00 to $47.00 and gave the stock a "market perform" rating in a report on Wednesday, January 28th. Finally, Stephens reissued an "equal weight" rating and set a $53.00 target price on shares of Camden National in a report on Thursday, February 5th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $49.00.

Hedge Funds Weigh In On Camden National

A number of hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in Camden National by 7.8% in the third quarter. Franklin Resources Inc. now owns 1,559,400 shares of the financial services provider's stock valued at $60,177,000 after buying an additional 113,221 shares during the period. State Street Corp raised its position in shares of Camden National by 0.4% in the 4th quarter. State Street Corp now owns 475,268 shares of the financial services provider's stock worth $20,617,000 after acquiring an additional 1,852 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Camden National by 70.4% in the 4th quarter. Wellington Management Group LLP now owns 220,382 shares of the financial services provider's stock worth $9,560,000 after acquiring an additional 91,018 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Camden National by 98.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 120,062 shares of the financial services provider's stock valued at $5,208,000 after purchasing an additional 59,479 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Camden National by 48.4% in the 4th quarter. AQR Capital Management LLC now owns 96,775 shares of the financial services provider's stock valued at $4,198,000 after purchasing an additional 31,580 shares during the period. Institutional investors own 77.41% of the company's stock.

Camden National Company Profile

Camden National Corporation is a bank holding company headquartered in Camden, Maine. Through its primary subsidiary, Camden National Bank, the company provides a full range of community banking services to individuals and businesses. Its branch network spans much of the State of Maine, with a concentration in the midcoast, central and southern regions.

The company's offerings include deposit products such as checking, savings and money market accounts, along with consumer and commercial lending services.