Asset Quality, Capital and Liquidity Remain Strong  CAMDEN, Maine, April 30, 2024 /PRNewswire/ -- Camden National Corporation (NASDAQ: CAC; "Camden National" or the "Company") today reported earnings for the first quarter ended March 31, 2024. The Company reported first quarter net income available to common shareholders of $13.3 million and earnings per diluted share ("EPS") of $0.91. The Company continues to prioritize strong asset quality within the portfolio, which allowed the Company to release $2.1 mi ...

```markdown [Executive Summary & Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Highlights) Camden National Corporation reported strong Q1 2024 financial results with increased net income, solid asset quality, and key corporate announcements including a new share repurchase program [First Quarter 2024 Performance Overview](index=1&type=section&id=First%20Quarter%202024%20Performance%20Overview) Camden National Corporation reported strong first-quarter 2024 financial results, with net income increasing significantly quarter-over-quarter, driven by prudent risk management and strategic balance sheet adjustments. The CEO highlighted the company's dedication to a relationship banking approach and a solid financial foundation - CEO Simon Griffiths expressed satisfaction with Q1 2024 financial results, emphasizing the company's agility in expense management and balance sheet dynamics, prudent risk management, and a relationship banking approach[27](index=27&type=chunk) Q1 2024 Net Income and EPS (QoQ Change) | Metric | Q1 2024 (USD) | Q4 2023 (USD) | Change (QoQ) | % Change (QoQ) | | :----------------- | :------------ | :------------ | :----------- | :------------- | | Net Income | $13.3 million | $8.48 million | +$4.8 million | +57% | | Diluted EPS | $0.91 | $0.58 | +$0.33 | +57% | | Adjusted Net Income (non-GAAP) | $12.553 million | $12.410 million | +$0.143 million | +1% | | Adjusted Diluted EPS (non-GAAP) | $0.86 | $0.85 | +$0.01 | +1% | [Key Financial Ratios & Asset Quality](index=1&type=section&id=Key%20Financial%20Ratios%20%26%20Asset%20Quality) The company maintained strong asset quality and capital positions in Q1 2024, with key profitability ratios showing solid performance. Asset quality was highlighted by low levels of past due loans and non-performing assets Q1 2024 Key Profitability Ratios | Metric | Q1 2024 (%) | | :-------------------------------------- | :---------- | | Return on average assets | 0.93% | | Adjusted return on average assets (non-GAAP) | 0.88% | | Return on average equity | 10.77% | | Adjusted return on average equity (non-GAAP) | 10.19% | | Return on average tangible equity (non-GAAP) | 13.46% | | Adjusted return on average tangible equity (non-GAAP) | 12.74% | Q1 2024 Key Asset Quality Indicators | Metric | Q1 2024 (%) | | :----------------------------------- | :---------- | | Loans 30-89 days past due of total loans | 0.05% | | Non-performing assets of total assets | 0.13% | [Corporate Announcements](index=2&type=section&id=Corporate%20Announcements) Camden National Corporation announced a new share repurchase program, declared a cash dividend, and scheduled its Q1 2024 conference call and annual meeting of shareholders - Initiated a new share repurchase program for up to **750,000 shares** (approximately **5% of outstanding shares**), replacing the 2023 program. No shares were repurchased in Q1 2024[3](index=3&type=chunk) - Declared a cash dividend of **$0.42 per share**, representing an annualized dividend yield of **5.01%** (based on March 28, 2024 closing price), payable April 30, 2024, to shareholders of record on April 15, 2024[47](index=47&type=chunk) - Scheduled a conference call and webcast for **April 30, 2024**, at **3:00 p.m. ET** to discuss Q1 2024 financial results and outlook[5](index=5&type=chunk)[36](index=36&type=chunk)[49](index=49&type=chunk) - Scheduled the annual meeting of shareholders for **May 21, 2024**, at **9:00 a.m. ET**, to be held virtually and in person[5](index=5&type=chunk)[50](index=50&type=chunk) [Financial Condition (Balance Sheet)](index=2&type=section&id=Financial%20Condition%20(Balance%20Sheet)) The company's balance sheet showed a slight increase in total assets, active management of loan and investment portfolios, and stable capital ratios despite a minor decrease in total deposits [Assets Overview](index=2&type=section&id=Assets%20Overview) Total assets increased by **1%** since December 31, 2023, reaching **$5.8 billion**. The company actively managed its loan and investment portfolios, with a focus on commercial real estate loan growth and redeploying investment cash flows Total Assets (QoQ Change) | Metric | March 31, 2024 (USD) | December 31, 2023 (USD) | Change (QoQ) (USD) | % Change (QoQ) | | :----------- | :------------------- | :---------------------- | :----------------- | :------------- | | Total Assets | $5,794,785 | $5,714,506 | +$80,279 | +1% | [Loans Portfolio](index=2&type=section&id=Loans%20Portfolio) Total loans increased by **1%** quarter-over-quarter, primarily driven by commercial real estate loan growth. The company maintained disciplined underwriting and saw no significant signs of distress in its portfolio Total Loans and Commercial Real Estate Loans (QoQ Change) | Metric | March 31, 2024 (USD) | December 31, 2023 (USD) | Change (QoQ) (USD) | % Change (QoQ) | | :--------------------- | :------------------- | :---------------------- | :----------------- | :------------- | | Total Loans | $4,121,040 | $4,098,094 | +$22,946 | +1% | | Commercial Real Estate | $1,702,952 | $1,672,306 | +$30,646 | +2% | - Sold **50% of residential mortgages** originated in Q1 2024, resulting in a slight decrease in residential real estate loans from December 31, 2023[2](index=2&type=chunk) - Continued active management and review of the loan portfolio, especially commercial real estate, with no significant signs of distress[2](index=2&type=chunk) [Investments](index=2&type=section&id=Investments) Total investments decreased by **2%** quarter-over-quarter, as the company continued to redeploy monthly cash flows from the investment portfolio to fund loan growth and maximize asset yield Total Investments (QoQ Change) | Metric | March 31, 2024 (USD) | December 31, 2023 (USD) | Change (QoQ) (USD) | % Change (QoQ) | | :---------------- | :------------------- | :---------------------- | :----------------- | :------------- | | Total Investments | $1,163,164 | $1,190,780 | -$27,616 | (2)% | - Investment portfolio represented **20% of total assets** at March 31, 2024, down from **21%** at December 31, 2023[46](index=46&type=chunk) - Duration of securities was **5.5 years** at March 31, 2024 (vs. **5.7 years** at Dec 31, 2023), with a weighted-average life of **7.8 years** at both dates[46](index=46&type=chunk) [Liabilities & Equity Overview](index=2&type=section&id=Liabilities%20%26%20Equity%20Overview) Total deposits decreased slightly, influenced by seasonality and active rate management. The company refinanced its BTFP loan and maintained strong regulatory capital ratios, with common equity and tangible common equity ratios remaining stable or slightly increasing [Deposits](index=2&type=section&id=Deposits) Total deposits decreased by **1%** quarter-over-quarter, primarily due to a **4% decrease** in checking account balances attributed to seasonality and strategic management of higher-cost deposit relationships Total Deposits (QoQ Change) | Metric | March 31, 2024 (USD) | December 31, 2023 (USD) | Change (QoQ) (USD) | % Change (QoQ) | | :------------- | :------------------- | :---------------------- | :----------------- | :------------- | | Total Deposits | $4,551,524 | $4,597,360 | -$45,836 | (1)% | - Checking account balances decreased **4%** during the quarter, mainly due to seasonality and active rate management of a **$72.0 million** higher-cost deposit relationship[33](index=33&type=chunk) Core Deposits (QoQ Change) | Metric | March 31, 2024 (USD) | December 31, 2023 (USD) | Change (QoQ) (USD) | % Change (QoQ) | | :------------ | :------------------- | :---------------------- | :----------------- | :------------- | | Core Deposits | $3,811,796 | $3,885,938 | -$74,142 | (2)% | [Borrowings & Capital](index=1&type=section&id=Borrowings%20%26%20Capital) The company refinanced its BTFP loan, increasing borrowings at a fixed rate. Capital position remained strong, with regulatory capital ratios well above requirements and stable common equity and tangible common equity ratios - Refinanced an existing **$135.0 million** Bank Term Funding Program (BTFP) loan and increased borrowings in the BTFP to **$225.0 million** at a fixed interest rate of **4.76%**, maturing in **January 2025**[15](index=15&type=chunk) Key Capital Ratios (QoQ Change) | Metric | March 31, 2024 (%) | December 31, 2023 (%) | Change (QoQ) (%) | | :-------------------------- | :----------------- | :-------------------- | :--------------- | | Common equity ratio | 8.66% | 8.66% | 0.00% | | Tangible common equity ratio (non-GAAP) | 7.12% | 7.11% | +0.01% | [Financial Operating Results (Income Statement)](index=3&type=section&id=Financial%20Operating%20Results%20(Income%20Statement)) Q1 2024 operating results showed a decrease in net interest income but a significant increase in non-interest income and net income, driven by expense management and a negative provision for credit losses [Net Interest Income & Margin](index=3&type=section&id=Net%20Interest%20Income%20%26%20Margin) Net interest income decreased quarter-over-quarter, primarily due to a decline in net interest margin, which was impacted by increased funding costs and a decrease in lower-cost deposit balances Net Interest Income and Margin (QoQ Change) | Metric | Q1 2024 (USD) | Q4 2023 (USD) | Change (QoQ) | % Change (QoQ) | | :---------------------- | :------------ | :------------ | :----------- | :------------- | | Net Interest Income | $31,273 | $32,709 | -$1,436 | (4)% | | Net Interest Margin (fully-taxable equivalent) | 2.30% | 2.40% | -0.10% | -10 bps | - Funding costs increased by **17 basis points** to **2.27%** for Q1 2024, driven by a **5% decrease** in average non-interest checking and a **4% decrease** in savings balances[48](index=48&type=chunk) [Non-Interest Income](index=3&type=section&id=Non-Interest%20Income) Non-interest income saw a significant increase quarter-over-quarter, largely due to the absence of a **$5.0 million pre-tax loss** on securities sales recorded in the previous quarter Total Non-Interest Income (QoQ Change) | Metric | Q1 2024 (USD) | Q4 2023 (USD) | Change (QoQ) | % Change (QoQ) | | :------------------ | :------------ | :------------ | :----------- | :------------- | | Total Non-Interest Income | $10,322 | $5,986 | +$4,336 | +72% | - The increase was primarily due to the absence of a **$5.0 million pre-tax loss** on sale of investment securities in Q4 2023, with no corresponding losses in Q1 2024[35](index=35&type=chunk) - Partially offset by a **$600,000 decrease** in debit card income, as Q4 2023 included an annual Visa incentive bonus of **$400,000**[35](index=35&type=chunk) [Non-Interest Expense & Efficiency](index=3&type=section&id=Non-Interest%20Expense%20%26%20Efficiency) Non-interest expense decreased quarter-over-quarter due to cost management actions taken in response to revenue pressures. The GAAP efficiency ratio improved significantly Total Non-Interest Expense (QoQ Change) | Metric | Q1 2024 (USD) | Q4 2023 (USD) | Change (QoQ) | % Change (QoQ) | | :------------------ | :------------ | :------------ | :----------- | :------------- | | Total Non-Interest Expense | $27,362 | $27,846 | -$484 | (2)% | - Actions were taken to maintain and manage costs in response to revenue pressures from a decreasing net interest margin[17](index=17&type=chunk) Efficiency Ratios (QoQ Change) | Metric | Q1 2024 (%) | Q4 2023 (%) | Change (QoQ) (%) | | :---------------------- | :---------- | :---------- | :--------------- | | GAAP efficiency ratio | 65.78% | 71.96% | -6.18% | | Non-GAAP efficiency ratio | 65.55% | 63.48% | +2.07% | [Net Income & EPS](index=3&type=section&id=Net%20Income%20%26%20EPS) Net income and diluted EPS increased substantially quarter-over-quarter, with adjusted figures also showing modest growth Net Income and EPS (QoQ Change) | Metric | Q1 2024 (USD) | Q4 2023 (USD) | Change (QoQ) | % Change (QoQ) | | :----------------- | :------------ | :------------ | :----------- | :------------- | | Net Income | $13,272 | $8,480 | +$4,792 | +57% | | Basic EPS | $0.91 | $0.58 | +$0.33 | +57% | | Diluted EPS | $0.91 | $0.58 | +$0.33 | +57% | | Adjusted Net Income (non-GAAP) | $12,553 | $12,410 | +$143 | +1% | | Adjusted Diluted EPS (non-GAAP) | $0.86 | $0.85 | +$0.01 | +1% | [Provision for Credit Losses](index=3&type=section&id=Provision%20for%20Credit%20Losses) The company recorded a negative provision expense for credit losses, indicating an improvement in asset quality and a favorable macroeconomic outlook, further boosted by a recovery from a previously written-off bond Provision for Credit Losses (QoQ Change) | Metric | Q1 2024 (USD) | Q4 2023 (USD) | Change (QoQ) | % Change (QoQ) | | :----------------------------------- | :------------ | :------------ | :----------- | :------------- | | (Credit) provision for credit losses | -$2,102 | $569 | -$2,671 | (469)% | - The negative provision was driven by favorable asset quality, an improved macroeconomic outlook, and modest loan growth[4](index=4&type=chunk) - Recorded a partial recovery of **$910,000** from the sale of a Signature Bank corporate bond that was written off in 2023[4](index=4&type=chunk)[13](index=13&type=chunk) [Asset Quality](index=2&type=section&id=Asset%20Quality) The company maintained strong asset quality in Q1 2024, characterized by low loan delinquencies, stable non-performing assets, and a robust allowance for credit losses [Loan Delinquency & Non-Performing Assets](index=2&type=section&id=Loan%20Delinquency%20%26%20Non-Performing%20Assets) The company demonstrated strong asset quality with a significant reduction in loans **30-89 days past due** and stable non-performing assets Loan Delinquency and Non-Performing Assets (QoQ Change) | Metric | March 31, 2024 | December 31, 2023 | Change (QoQ) | % Change (QoQ) | | :------------------------------- | :------------- | :---------------- | :----------- | :------------- | | Loans 30-89 days past due to total loans | 0.05% | 0.12% | -0.07% | -58.3% | | Total non-performing assets | $7,631 | $7,438 | +$193 | +2.6% | | Non-performing assets to total assets | 0.13% | 0.13% | 0.00% | 0% | [Allowance for Credit Losses (ACL)](index=2&type=section&id=Allowance%20for%20Credit%20Losses%20(ACL)) The Allowance for Credit Losses (ACL) on loans decreased slightly, while its coverage of non-performing loans remained robust Allowance for Credit Losses (QoQ Change) | Metric | March 31, 2024 | December 31, 2023 | Change (QoQ) | % Change (QoQ) | | :-------------------------- | :------------- | :---------------- | :----------- | :------------- | | ACL on loans | $35,613 | $36,935 | -$1,322 | (4)% | | ACL on loans to total loans | 0.86% | 0.90% | -0.04% | -4.4% | | ACL on loans to non-performing loans | 466.69% | 496.57% | -29.88% | -6.0% | [Net Charge-offs](index=2&type=section&id=Net%20Charge-offs) Annualized net charge-offs remained very low, indicating continued strong loan portfolio performance Annualized Net Charge-offs (QoQ Change) | Metric | Q1 2024 (%) | Q4 2023 (%) | Change (QoQ) (%) | | :-------------------------------- | :---------- | :---------- | :--------------- | | Annualized net charge-offs to average loans | 0.02% | 0.03% | -0.01% | [Capital & Liquidity](index=1&type=section&id=Capital%20%26%20Liquidity) Camden National Corporation demonstrated strong capital and liquidity positions, with all regulatory capital ratios exceeding requirements and ample liquidity coverage for uninsured deposits [Regulatory Capital Ratios](index=1&type=section&id=Regulatory%20Capital%20Ratios) The company maintained robust capital levels, with all regulatory capital ratios significantly exceeding required levels, demonstrating financial stability Regulatory Capital Ratios (QoQ Change) | Metric | March 31, 2024 (%) | December 31, 2023 (%) | Change (QoQ) (%) | | :-------------------------- | :----------------- | :-------------------- | :--------------- | | Common equity ratio | 8.66% | 8.66% | 0.00% | | Tangible common equity ratio (non-GAAP) | 7.12% | 7.11% | +0.01% | | Tier 1 leverage capital ratio | 9.59% | 9.40% | +0.19% | | Total risk-based capital ratio | 14.52% | 14.36% | +0.16% | [Tangible Common Equity & Book Value](index=12&type=section&id=Tangible%20Common%20Equity%20%26%20Book%20Value) Tangible book value per share increased quarter-over-quarter, reflecting growth in tangible shareholders' equity Tangible Book Value Per Share (QoQ Change) | Metric | March 31, 2024 | December 31, 2023 | Change (QoQ) | | :-------------------------- | :------------- | :---------------- | :----------- | | Tangible shareholders' equity | $406,048 | $399,396 | +$6,652 | | Tangible book value per share | $27.82 | $27.42 | +$0.40 | [Liquidity Position](index=2&type=section&id=Liquidity%20Position) The company maintained a strong liquidity position, with available liquidity sources significantly covering uninsured and uncollateralized deposits - Uninsured and uncollateralized deposits were **14.8% of total deposits**[32](index=32&type=chunk) - Available liquidity sources were **2.1 times uninsured and uncollateralized deposits**[32](index=32&type=chunk) [Non-GAAP Financial Measures & Reconciliations](index=5&type=section&id=Non-GAAP%20Financial%20Measures%20%26%20Reconciliations) This section provides reconciliations of non-GAAP financial measures, offering adjusted views of net income, EPS, returns, pre-tax pre-provision income, efficiency, and core deposits for enhanced performance analysis [Adjusted Net Income & EPS](index=5&type=section&id=Adjusted%20Net%20Income%20%26%20EPS) Management uses adjusted net income and diluted EPS (non-GAAP) to provide a clearer view of operating performance by excluding the impact of unusual items, such as securities sales and bond recovery/write-offs - Non-GAAP measures are used to measure performance against peers, analyze internal performance, and help investors understand operating trends by removing the impact of unusual items[20](index=20&type=chunk) Adjusted Net Income and Diluted EPS Reconciliation (QoQ Change) | Metric | Q1 2024 (USD) | Q4 2023 (USD) | Change (QoQ) (USD) | | :-------------------------------------- | :------------ | :------------ | :----------------- | | Net income, as presented | $13,272 | $8,480 | +$4,792 | | Adjustment for net loss on sale of securities | $0 | $4,975 | -$4,975 | | Adjustment for Signature Bank bond (recovery) write-off | -$910 | $0 | -$910 | | Tax impact of above adjustments | $191 | -$1,045 | +$1,236 | | **Adjusted net income** | **$12,553** | **$12,410** | **+$143** | | Diluted earnings per share, as presented | $0.91 | $0.58 | +$0.33 | | Adjustment for net loss on sale of securities | $0 | $0.34 | -$0.34 | | Adjustment for Signature Bank bond (recovery) write-off | -$0.06 | $0 | -$0.06 | | Tax impact of above adjustments | $0.01 | -$0.07 | +$0.08 | | **Adjusted diluted earnings per share** | **$0.86** | **$0.85** | **+$0.01** | [Adjusted Returns (ROAA, ROAE, ROTCE)](index=5&type=section&id=Adjusted%20Returns%20(ROAA%2C%20ROAE%2C%20ROTCE)) Adjusted return metrics provide a normalized view of profitability by excluding specific non-recurring items, showing consistent performance trends Adjusted Return on Average Assets (QoQ Change) | Metric | Q1 2024 (%) | Q4 2023 (%) | Change (QoQ) (%) | | :-------------------------------------- | :---------- | :---------- | :--------------- | | Return on average assets, as presented | 0.93% | 0.59% | +0.34% | | Adjustment for net loss on sale of securities | 0.00% | 0.35% | -0.35% | | Adjustment for Signature Bank bond (recovery) write-off | -0.06% | 0.00% | -0.06% | | Tax impact of above adjustments | 0.01% | -0.07% | +0.08% | | **Adjusted return on average assets** | **0.88%** | **0.87%** | **+0.01%** | Adjusted Return on Average Equity (QoQ Change) | Metric | Q1 2024 (%) | Q4 2023 (%) | Change (QoQ) (%) | | :-------------------------------------- | :---------- | :---------- | :--------------- | | Return on average equity, as presented | 10.77% | 7.20% | +3.57% | | Adjustment for net loss on sale of securities | 0.00% | 4.22% | -4.22% | | Adjustment for Signature Bank bond (recovery) write-off | -0.74% | 0.00% | -0.74% | | Tax impact of above adjustments | 0.16% | -0.89% | +1.05% | | **Adjusted return on average equity** | **10.19%** | **10.53%** | **-0.34%** | Adjusted Return on Average Tangible Equity (QoQ Change) | Metric | Q1 2024 (%) | Q4 2023 (%) | Change (QoQ) (%) | | :-------------------------------------- | :---------- | :---------- | :--------------- | | Return on average tangible equity | 13.46% | 9.18% | +4.28% | | **Adjusted return on average tangible equity** | **12.74%** | **13.38%** | **-0.64%** | [Pre-Tax, Pre-Provision Income](index=5&type=section&id=Pre-Tax%2C%20Pre-Provision%20Income) Pre-tax, pre-provision income and its adjusted counterpart are used to evaluate core operating profitability before the impact of credit loss provisions and taxes, showing a significant increase quarter-over-quarter for the GAAP measure Pre-Tax, Pre-Provision Income Reconciliation (QoQ Change) | Metric | Q1 2024 (USD) | Q4 2023 (USD) | Change (QoQ) (USD) | | :-------------------------------------- | :------------ | :------------ | :----------------- | | Net income, as presented | $13,272 | $8,480 | +$4,792 | | Adjustment for (credit) provision for credit losses | -$2,102 | $569 | -$2,671 | | Adjustment for income tax expense | $3,063 | $1,800 | +$1,263 | | **Pre-tax, pre-provision income** | **$14,233** | **$10,849** | **+$3,384** | | Adjustment for net loss on sale of securities | $0 | $4,975 | -$4,975 | | **Adjusted pre-tax, pre-provision income** | **$14,233** | **$15,824** | **-$1,591** | [Efficiency Ratio (Non-GAAP)](index=5&type=section&id=Efficiency%20Ratio%20(Non-GAAP)) The non-GAAP efficiency ratio provides an adjusted view of operational efficiency, showing a slight increase quarter-over-quarter despite a decrease in the GAAP ratio Efficiency Ratio Reconciliation (QoQ Change) | Metric | Q1 2024 (%) | Q4 2023 (%) | Change (QoQ) (%) | | :---------------------- | :---------- | :---------- | :--------------- | | GAAP efficiency ratio | 65.78% | 71.96% | -6.18% | | **Non-GAAP efficiency ratio** | **65.55%** | **63.48%** | **+2.07%** | [Core Deposits](index=5&type=section&id=Core%20Deposits) Core deposits, excluding certificates of deposit and brokered deposits, decreased quarter-over-quarter Core Deposits Reconciliation (QoQ Change) | Metric | March 31, 2024 (USD) | December 31, 2023 (USD) | Change (QoQ) (USD) | | :-------------------------------------- | :------------------- | :---------------------- | :----------------- | | Total deposits | $4,551,524 | $4,597,360 | -$45,836 | | Adjustment for certificates of deposit | -$585,786 | -$609,503 | +$23,717 | | Adjustment for brokered deposits | -$153,942 | -$101,919 | -$52,023 | | **Core deposits** | **$3,811,796** | **$3,885,938** | **-$74,142** | [Company Information & Forward-Looking Statements](index=4&type=section&id=Company%20Information%20%26%20Forward-Looking%20Statements) This section provides background on Camden National Corporation, outlines the forward-looking statements disclaimer, and clarifies the use of annualized data [About Camden National Corporation](index=4&type=section&id=About%20Camden%20Corporation) Camden National Corporation is the largest publicly traded bank holding company in Northern New England, offering full-service community banking with a focus on digital services and personalized customer experience - Largest publicly traded bank holding company in Northern New England with **$5.8 billion in assets** and **57 banking centers**[19](index=19&type=chunk) - Founded in **1875**, Camden National Bank provides full-service community banking, combining digital banking with personalized service[19](index=19&type=chunk) - Recognized as one of the Best Places to Work and named to Forbes' World's Best Banks list[19](index=19&type=chunk) [Forward-Looking Statements Disclaimer](index=4&type=section&id=Forward-Looking%20Statements%20Disclaimer) The report contains forward-looking statements subject to various risks, assumptions, and uncertainties, and actual results may differ materially from expectations. The company has no obligation to update these statements - Statements not of historical fact are forward-looking, identified by words like 'believe,' 'expect,' 'anticipate,' 'estimate,' 'intend,' or future/conditional verbs[6](index=6&type=chunk) - Actual results could differ materially due to factors such as competitive pressures, inflation, interest rate changes, economic conditions, operational risks (cybersecurity, fraud), regulatory changes, financial services industry volatility, and global events[6](index=6&type=chunk) - The company does not have any obligation to update forward-looking statements[6](index=6&type=chunk) [Annualized Data Note](index=5&type=section&id=Annualized%20Data%20Note) Annualized data is presented for analytical purposes to discern underlying performance trends, but it may not be indicative of any four-quarter period - Annualized returns, yields, and performance ratios are presented for analytical and decision-making purposes to better discern underlying performance trends[7](index=7&type=chunk) - Annualized data may not be indicative of any four-quarter period and is presented for illustrative purposes only[7](index=7&type=chunk) ```

CAMDEN, Maine, April 1, 2024 /PRNewswire/ -- Camden National Corporation (NASDAQ: CAC) will report financial and operating results for the quarter ended March 31, 2024 on Tuesday, April 30, 2024. A conference call and webcast will be held at 3:00 p.m. Eastern on Tuesday, April 30, 2024 hosted by Simon Griffiths, President and Chief Executive Officer and Michael Archer, Executive Vice President, Chief Financial Officer. Parties interested in listening to the teleconference should dial into the call or connec ...

Here are three stocks with buy rank and strong value characteristics for investors to consider today, March 11th:Camden National Corporation (CAC) : This bank holding company for Camden National Bank carries a Zacks Rank #1 (Strong Buy), and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 5.4% over the last 60 days.Camden has a price-to-earnings ratio (P/E) of 10.62, compared with 21.63 for S&P 500. The company possesses a Value Score of B.Stifel Financial Corp. (SF) : Th ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------|--------------------------|-------|-----------------------|-------|-----------------------|-------|----------|-------------------------|---------------------------|----------|-------------------|----------|-----------------|-------|-------------------------------| | (Dollars in thousands) \nMunicipal bonds | # of Securities \n55 | $ | Fair Value \n63,159 | \n $ | Bo ...

Camden National Corp. (CAC) is well-poised for growth on the back of earnings growth potential and revenue strength. Hence, buying the stock now seems to be a good investment decision. The Zacks Consensus Estimate for CAC’s 2024 earnings has remained unchanged, whereas 2025 earnings have been revised upward by 10.3% over the past 30 days. This indicates that analysts are optimistic regarding the company’s growth prospects. The company currently sports a Zacks Rank #1 (Strong Buy).Over the past six months, i ...

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use tri ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use a variety of methods, incl ...

Camden National (CAC) has been on a downward spiral lately with significant selling pressure. After declining 10.7% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.Guide to Identifying Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a sto ...

Camden National Corporation (NASDAQ:CAC) Q4 2023 Earnings Conference Call January 30, 2024 3:00 PM ET Company Participants Simon Griffiths - President and CEO Mike Archer - EVP and CFO Conference Call Participants Steve Moss - Raymond James Damon DelMonte - KBW Matthew Breese - Stephens Inc. Operator Good day, and welcome to Camden National Corporation's Fourth Quarter 2023 Earnings Conference Call. My name is Cole, and I'll be the operator for today's call. [Operator Instructions]. Please note that this pr ...