Overview
Camden National Q3 net income rises to $21.2 mln, setting a record
Diluted EPS for Q3 increases 51% from Q2, reaching $1.25
Company's net interest margin improves by 10 basis points to 3.16%
Result Drivers
ACQUISITION IMPACT - Successful acquisition and integration of Northway Financial, Inc. positioned Camden National for growth, contributing to record earnings
NET INTEREST MARGIN - Net interest margin increased by 10 basis points to 3.16%, driven by loan growth and margin expansion
NON-INTEREST INCOME - Non-interest income rose 8%, supported by fee income growth and property sales
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
$1.25
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Camden National Corp is $44.00, about 15.6% above its October 27 closing price of $37.13
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 9 three months ago
Press Release: ID:nPn9KklSba
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)