Camden National Posts Q3 Net Income of $22.8 Million, Tops Analyst Estimates

Camden National Corp. (CAC) on Tuesday reported third-quarter net income of $22.8 million, or $1.34 per share, exceeding Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share. The Camden, Maine-based bank posted revenue of $93.8 million, with revenue net of interest expense at $68.7 million, also beating forecasts of $67.9 million. Camden National shares have risen 35% since the start of the year and 55% over the past 12 months.