NasdaqGS:CAC

Stock Analysis Report

Executive Summary

Camden National Corporation operates as the holding company for Camden National Bank that provides commercial and consumer banking products and services to consumer, institutional, municipal, non-profit, and commercial customers.


Snowflake Analysis

Flawless balance sheet established dividend payer.


Similar Companies

Share Price & News

How has Camden National's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CAC's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

15.8%

CAC

14.6%

US Banks

9.4%

US Market


1 Year Return

-23.5%

CAC

-24.3%

US Banks

-6.8%

US Market

Return vs Industry: CAC matched the US Banks industry which returned -34.8% over the past year.

Return vs Market: CAC underperformed the US Market which returned -15.9% over the past year.


Shareholder returns

CACIndustryMarket
7 Day15.8%14.6%9.4%
30 Day-3.9%-4.4%-3.9%
90 Day-28.1%-33.9%-16.5%
1 Year-21.9%-23.5%-22.0%-24.3%-4.8%-6.8%
3 Year-14.3%-20.2%-8.3%-15.1%23.4%15.2%
5 Year45.2%28.0%16.7%3.3%41.3%25.7%

Price Volatility Vs. Market

How volatile is Camden National's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Camden National undervalued compared to its fair value and its price relative to the market?

36.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CAC ($28.3) is trading below our estimate of fair value ($55.89)

Significantly Below Fair Value: CAC is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CAC is good value based on its PE Ratio (7.6x) compared to the Banks industry average (8.5x).

PE vs Market: CAC is good value based on its PE Ratio (7.6x) compared to the US market (12.2x).


Price to Earnings Growth Ratio

PEG Ratio: CAC's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: CAC is overvalued based on its PB Ratio (0.9x) compared to the US Banks industry average (0.8x).


Next Steps

Future Growth

How is Camden National forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

-15.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CAC's earnings are forecast to decline over the next 3 years (-7.5% per year).

Earnings vs Market: CAC's earnings are forecast to decline over the next 3 years (-7.5% per year).

High Growth Earnings: CAC's earnings are forecast to decline over the next 3 years.

Revenue vs Market: CAC's revenue (1.8% per year) is forecast to grow slower than the US market (7% per year).

High Growth Revenue: CAC's revenue (1.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CAC's Return on Equity is forecast to be low in 3 years time (9.8%).


Next Steps

Past Performance

How has Camden National performed over the past 5 years?

18.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CAC has high quality earnings.

Growing Profit Margin: CAC's current net profit margins (34.2%) are higher than last year (33.6%).


Past Earnings Growth Analysis

Earnings Trend: CAC's earnings have grown by 18.6% per year over the past 5 years.

Accelerating Growth: CAC's earnings growth over the past year (7.9%) is below its 5-year average (18.6% per year).

Earnings vs Industry: CAC earnings growth over the past year (7.9%) underperformed the Banks industry 10.9%.


Return on Equity

High ROE: CAC's Return on Equity (12.1%) is considered low.


Next Steps

Financial Health

How is Camden National's financial position?


Financial Position Analysis

Short Term Liabilities: CAC's short term assets ($133.8M) do not cover its short term liabilities ($3.9B).

Long Term Liabilities: CAC's short term assets ($133.8M) exceed its long term liabilities ($99.1M).


Debt to Equity History and Analysis

Debt Level: CAC's debt to equity ratio (76.9%) is considered high.

Reducing Debt: CAC's debt to equity ratio has reduced from 239% to 76.9% over the past 5 years.

Debt Coverage: CAC's debt is not well covered by operating cash flow (9%).

Interest Coverage: Insufficient data to determine if CAC's interest payments on its debt are well covered by EBIT.


Balance Sheet


Next Steps

Dividend

What is Camden National's current dividend yield, its reliability and sustainability?

4.03%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: CAC's dividend (4.66%) is higher than the bottom 25% of dividend payers in the US market (2.07%).

High Dividend: CAC's dividend (4.66%) is low compared to the top 25% of dividend payers in the US market (5.82%).


Stability and Growth of Payments

Stable Dividend: CAC's dividends per share have been stable in the past 10 years.

Growing Dividend: CAC's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (33.2%), CAC's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CAC's dividends in 3 years are forecast to be well covered by earnings (42.5% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.9yrs

Average management tenure


CEO

Greg Dufour (58yo)

11.25s

Tenure

US$2,664,199

Compensation

Mr. Gregory A. Dufour, also known as Greg, has been President, Chief Executive Officer and Director of Camden National Corporation (“Company”) since January 2009. Mr. Dufour joined Camden National Corporat ...


CEO Compensation Analysis

Compensation vs Market: Greg's total compensation ($USD2.66M) is about average for companies of similar size in the US market ($USD2.26M).

Compensation vs Earnings: Greg's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Gregory Dufour
President11.25yrsUS$2.66m0.64% $3.2m
Deborah Jordan
Former Executive VP & COO11.58yrsUS$822.47k0.40% $2.0m
Joanne Campbell
Executive VP of Risk Management19.25yrsUS$993.35k0.11% $532.5k
Patricia Rose
Executive Vice President of Retail & Mortgage Banking2.58yrsUS$472.17k0.050% $251.0k
Ann Bresnahan
Secretary & Independent Director30.25yrsUS$56.90k0.25% $1.3m
Timothy Nightingale
Executive VP & Senior Loan Officerno dataUS$605.00k0.33% $1.7m
William Martel
Executive Vice President of Technology and Support Services0.083yrno data0.0052% $25.9k
Michael Archer
Senior VP & Corporate Controllerno datano datano data
Renée Smyth
Executive VP and Chief Experience & Marketing Officer2.92yrsno datano data
Edward Walbridge
Senior VP & Human Resources Directorno datano datano data

2.9yrs

Average Tenure

57yo

Average Age

Experienced Management: CAC's management team is considered experienced (2.9 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Gregory Dufour
President11.25yrsUS$2.66m0.64% $3.2m
Ann Bresnahan
Secretary & Independent Director30.25yrsUS$56.90k0.25% $1.3m
Robin Sawyer
Independent Directorno dataUS$49.78k0.032% $157.4k
David Flanagan
Independent Director14.58yrsUS$65.35k0.083% $410.9k
James Page
Independent Director12.17yrsUS$50.28k0.032% $159.6k
Sara Longley
Independent Director6yrsUS$63.08k0.038% $189.0k
Lawrence Sterrs
Independent Chairman of the Board2.58yrsUS$94.43k0.035% $174.6k
Carl Soderberg
Independent Director4.5yrsUS$52.33k0.46% $2.3m
Craig Denekas
Independent Director3yrsUS$56.40k0.022% $109.4k
Marie McCarthy
Independent Director1.75yrsUS$44.83k0.012% $62.2k

6.0yrs

Average Tenure

61.5yo

Average Age

Experienced Board: CAC's board of directors are considered experienced (6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: CAC insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Camden National Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Camden National Corporation
  • Ticker: CAC
  • Exchange: NasdaqGS
  • Founded: 1875
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$497.613m
  • Shares outstanding: 15.18m
  • Website: https://www.camdennational.com

Number of Employees


Location

  • Camden National Corporation
  • 2 Elm Street
  • Camden
  • Maine
  • 4843
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CACNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDOct 1997

Biography

Camden National Corporation operates as the holding company for Camden National Bank that provides commercial and consumer banking products and services to consumer, institutional, municipal, non-profit, and commercial customers. It offers various deposit products, including demand, checking, saving, and money market accounts; and time deposits, as well as certificates of deposit. The company also originates single family and multi-family residential loans, commercial real estate loans, business loans, municipal loans, and various consumer loans, as well as loans for the construction of residential homes, multi-family properties, and commercial real estate properties; and commercial lending to the small business medical field, including dentists, optometrists, and veterinarians. As of December 31, 2018, the Bank had 60 branches in 16 counties; 71 ATMs; commercial loan production offices in Manchester and Portsmouth, New Hampshire; and a mortgage loan production office in Braintree, Massachusetts. In addition, the company provides brokerage and insurance services through its financial offerings consisting of college, retirement, estate planning, mutual funds, strategic asset management accounts, and variable and fixed annuities. Further, it offers a range of investment management, financial planning, fiduciary, asset management, and wealth management services, as well as serves as trustee. The company was founded in 1875 and is headquartered in Camden, Maine. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/10 07:38
End of Day Share Price2020/04/09 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.