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

As of 28 November 2025, Camden National Corp. (Maine) has moved from an attractive to a fair valuation grade. The company appears to be fairly valued based on its current metrics. The P/E ratio stands at 12, while the Price to Book Value is 1.04, and the EV to EBITDA ratio is 15.92.
In comparison to its peers, Business First Bancshares, Inc. has a more attractive P/E ratio of 9.65, while South Plains Financial, Inc. has a P/E of 12.14, indicating that Camden National is positioned similarly within its industry. Notably, the company's returns have lagged behind the S&P 500, with a year-to-date return of -5.38% compared to the S&P 500's 16.45%, reinforcing the notion that the stock may not be the best investment at this time.