Is Camden National Corp. (Maine) overvalued or undervalued?

As of 12 August 2025, Camden National Corp. (Maine) moved from fair to attractive in its valuation grade, indicating a shift towards being undervalued. The company appears to be undervalued based on its P/E ratio of 12, which is lower than the peer average of approximately 11.68 for Camden and its peers. Additionally, the Price to Book Value stands at 1.04, and the EV to EBITDA ratio is 15.92, suggesting that the company is trading at reasonable multiples compared to its industry.
In comparison to its peers, Business First Bancshares, Inc. has a P/E ratio of 9.65, while South Plains Financial, Inc. has a P/E of 12.14, indicating that Camden National Corp. is competitively positioned within its sector. Despite recent underperformance with a year-to-date return of -2.85% compared to the S&P 500's 12.22%, the long-term outlook remains positive, as evidenced by a 5-year return of 34.94%, which, while lower than the S&P 500's 96.61%, still reflects growth potential.