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.

Rewards

PE ratio (12.3x) is below the US market (18.4x)

Earnings grew by 55.8% over the past year

Pays a high and reliable dividend of 2.71%

Risk Analysis

Earnings are forecast to decline by an average of -3.9% per year for the next 3 years



Snowflake Analysis

Flawless balance sheet with solid track record and pays a dividend.


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 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.7%

CAC

1.2%

US Banks

0.8%

US Market


1 Year Return

17.6%

CAC

22.1%

US Banks

17.8%

US Market

Return vs Industry: CAC underperformed the US Banks industry which returned 22.1% over the past year.

Return vs Market: CAC matched the US Market which returned 17.8% over the past year.


Shareholder returns

CACIndustryMarket
7 Day1.7%1.2%0.8%
30 Day-1.4%0.9%1.8%
90 Day-0.4%9.2%4.1%
1 Year21.0%17.6%25.7%22.1%20.4%17.8%
3 Year12.0%3.9%31.9%22.7%45.9%36.4%
5 Year100.0%75.0%75.8%56.2%68.1%49.6%

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?

12.28x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: CAC ($44.21) is trading above our estimate of fair value ($40.44)

Significantly Below Fair Value: CAC is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: CAC is good value based on its PE Ratio (12.3x) compared to the Banks industry average (12.7x).

PE vs Market: CAC is good value based on its PE Ratio (12.3x) compared to the US market (18.4x).


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 (1.4x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Camden National forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-3.9%

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 (-3.9% per year).

Earnings vs Market: CAC's earnings are forecast to decline over the next 3 years (-3.9% per year).

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

Revenue vs Market: CAC's revenue (2% per year) is forecast to grow slower than the US market (7.4% per year).

High Growth Revenue: CAC's revenue (2% 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 (10%).


Next Steps

Past Performance

How has Camden National performed over the past 5 years?

18.2%

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%) are higher than last year (23%).


Past Earnings Growth Analysis

Earnings Trend: CAC's earnings have grown by 18.2% per year over the past 5 years.

Accelerating Growth: CAC's earnings growth over the past year (55.8%) exceeds its 5-year average (18.2% per year).

Earnings vs Industry: CAC earnings growth over the past year (55.8%) exceeded the Banks industry 27.1%.


Return on Equity

High ROE: CAC's Return on Equity (11.9%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Camden National's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: CAC has a low level of unsold assets or inventory.

Debt Coverage by Assets: CAC's debt is not covered by short term assets (assets are 0.6x debt).


Financial Institutions Analysis

Asset Level: CAC's level of assets compared to its equity is low.

Allowance for Bad Loans: CAC has a sufficient allowance for bad loans.

Low Risk Liabilities: CAC's liabilities are made up of primarily low risk sources of funding.

Loan Level: CAC has an acceptable proportion of non-loan assets held.

Low Risk Deposits: CAC's loans are broadly funded by customer deposits.

Level of Bad Loans: CAC has an appropriate level of bad loans (0.43%)


Next Steps

Dividend

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

2.71%

Current Dividend Yield


Dividend Yield vs Market

company2.7%marketbottom25%1.4%markettop25%3.7%industryaverage2.8%forecastin3Years2.9%

Current dividend yield vs market & industry

Notable Dividend: CAC's dividend (2.71%) is higher than the bottom 25% of dividend payers in the US market (1.43%).

High Dividend: CAC's dividend (2.71%) is low compared to the top 25% of dividend payers in the US market (3.72%).


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 (33.3%), 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 (38.8% payout ratio).


Next Steps

Management

What is the CEO of Camden National's salary, the management and board of directors tenure and is there insider trading?

6.8yrs

Average management tenure


CEO

Greg Dufour (58yo)

10.9yrs

Tenure

US$1,568,237

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 ($USD1.57M) is below average for companies of similar size in the US market ($USD2.65M).

Compensation vs Earnings: Greg's compensation has been consistent with company performance over the past year.


Management Age and Tenure

6.8yrs

Average Tenure

57yo

Average Age

Experienced Management: CAC's management team is seasoned and experienced (6.8 years average tenure).


Board Age and Tenure

5.7yrs

Average Tenure

61.5yo

Average Age

Experienced Board: CAC's board of directors are considered experienced (5.7 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$15,77618 Mar 19
Patricia Rose
EntityIndividual
Role
Senior Key Executive
Executive Vice President of Retail & Mortgage Banking
Shares482
Max PriceUS$32.73
BuyUS$28,37718 Mar 19
Deborah Jordan
EntityIndividual
Role
Chief Financial Officer
Executive VP
Shares867
Max PriceUS$32.73
BuyUS$52,59718 Mar 19
Gregory Dufour
EntityIndividual
Role
Chief Executive Officer
President
Shares1,607
Max PriceUS$32.73
BuyUS$7,88818 Mar 19
Joanne Campbell
EntityIndividual
Role
Senior Key Executive
Executive VP of Risk Management
Shares241
Max PriceUS$32.73
SellUS$54,37511 Mar 19
Gregory Dufour
EntityIndividual
Role
Chief Executive Officer
President
Shares1,250
Max PriceUS$43.50

Ownership Breakdown

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


Management Team

  • Debbie Jordan (53yo)

    Executive VP

    • Tenure: 11.3yrs
    • Compensation: US$717.13k
  • Ann Bresnahan (68yo)

    Secretary & Director

    • Tenure: 29.9yrs
    • Compensation: US$57.29k
  • Greg Dufour (58yo)

    President

    • Tenure: 10.9yrs
    • Compensation: US$1.57m
  • Joanne Campbell (56yo)

    Executive VP of Risk Management

    • Tenure: 18.9yrs
    • Compensation: US$478.20k
  • Tim Nightingale (61yo)

    Executive VP & Senior Loan Officer

    • Tenure: 0yrs
    • Compensation: US$529.79k
  • Carolyn Carson-Crosby

    Senior Vice President of Employee Relations and Engagement Manager

    • Tenure: 0yrs
  • Mike Archer

    Senior VP & Corporate Controller

    • Tenure: 0yrs
  • Edward Walbridge

    Senior VP & Human Resources Director

    • Tenure: 0yrs
  • Renée Smyth

    Executive VP and Chief Experience & Marketing Officer

    • Tenure: 2.6yrs
  • Trish Rose (55yo)

    Executive Vice President of Retail & Mortgage Banking

    • Tenure: 2.3yrs
    • Compensation: US$418.14k

Board Members

  • Ann Bresnahan (68yo)

    Secretary & Director

    • Tenure: 29.9yrs
    • Compensation: US$57.29k
  • Greg Dufour (58yo)

    President

    • Tenure: 10.9yrs
    • Compensation: US$1.57m
  • Robin Sawyer (52yo)

    Independent Director

    • Tenure: 0yrs
    • Compensation: US$39.51k
  • David Flanagan (66yo)

    Independent Director

    • Tenure: 14.3yrs
    • Compensation: US$66.06k
  • James Page (67yo)

    Independent Director

    • Tenure: 11.8yrs
    • Compensation: US$50.81k
  • Katy Longley (65yo)

    Independent Director

    • Tenure: 5.7yrs
    • Compensation: US$62.79k
  • Larry Sterrs (66yo)

    Chairman of the Board

    • Tenure: 2.3yrs
    • Compensation: US$95.96k
  • Carl Soderberg (56yo)

    Independent Director

    • Tenure: 4.2yrs
    • Compensation: US$49.54k
  • Craig Denekas (54yo)

    Independent Director

    • Tenure: 2.7yrs
    • Compensation: US$55.46k
  • Marie McCarthy (50yo)

    Independent Director

    • Tenure: 1.4yrs
    • Compensation: US$27.47k

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$670.610m
  • Shares outstanding: 15.19m
  • 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, a ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/11 23:33
End of Day Share Price2019/12/11 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.