Overview

* Camden National ( CAC ) 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 ( CAC ) 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/Mis Actual Consensu

s s

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 ( CAC ) 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:

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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.)