Camden National Bank Earnings: What To Look For From CAC

Maine-based regional bank Camden National (NASDAQ:CAC) will be reporting earnings this Tuesday morning. Here’s what investors should know.

Camden National Bank missed analysts’ revenue expectations last quarter, reporting revenues of $64.56 million, up 6.9% year on year. It was a slower quarter for the company, with a slight miss of analysts’ net interest income estimates and a narrow beat of analysts’ EPS estimates.

Is Camden National Bank a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Camden National Bank’s revenue to grow 6.1% year on year, slowing from the 45.6% increase it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Camden National Bank rarely misses Wall Street’s revenue estimates.

Looking at Camden National Bank’s peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. OFG Bancorp delivered year-on-year revenue growth of 4.5%, beating analysts’ expectations by 3.9%, and Hilltop Holdings reported revenues up 7.5%, topping estimates by 3.4%. OFG Bancorp traded up 4.2% following the results while Hilltop Holdings was also up 3%.

Read our full analysis of OFG Bancorp’s results here and Hilltop Holdings’s results here.

Investors in the regional banks segment have had steady hands going into earnings, with share prices flat over the last month. Camden National Bank is up 1.4% during the same time and is heading into earnings with an average analyst price target of $53.25 (compared to the current share price of $54.63).

ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable.

These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE.