Cadence Bank Stock Analysis and Performance

Cadence Bank (NYSE:CADE) has recently seen a drop in their FY2024 EPS estimates, according to analysts at DA Davidson. The research note, issued on Thursday, July 25th, predicts that the company will post earnings per share of $2.59 for the year, down from their previous estimate of $2.63. Despite this decrease, DA Davidson maintains a “Buy” rating and a $39.00 price target on the stock. The consensus estimate for Cadence Bank’s current full-year earnings is $2.54 per share, with estimates for FY2025 earnings at $2.82 EPS.

In their most recent quarterly earnings report on July 22nd, Cadence Bank exceeded analysts’ expectations with an EPS of $0.69, compared to the consensus estimate of $0.61. The company also reported revenue of $742.87 million, surpassing the consensus estimate of $439.63 million. Cadence Bank’s net margin was 24.42% and return on equity was 8.82%. Analysts have been closely monitoring the stock, with several research firms providing ratings and target prices.

Despite the drop in EPS estimates, Cadence Bank’s stock performance has been relatively stable, with shares opening at $33.51 on Monday. The company has a market cap of $6.11 billion, a PE ratio of 10.71, and a beta of 0.98. Cadence Bank also recently announced a quarterly dividend, with investors set to receive $0.25 per share on October 1st.

Institutional investors and hedge funds have shown interest in Cadence Bank, with recent purchases and sales of the company’s stock. GAMMA Investing LLC and Wolverine Asset Management LLC are among the investors who have increased their holdings in the company. Overall, hedge funds and institutional investors own 84.61% of Cadence Bank’s stock.

Cadence Bank provides a range of commercial banking and financial services, including consumer banking, loans, mortgages, credit cards, and commercial and business banking. With a focus on specialized and asset-based lending, commercial real estate, and treasury management, Cadence Bank continues to attract investors and analysts’ attention.

For more news and updates on Cadence Bank, investors can sign up to receive a daily summary of the latest news and analysts’ ratings through MarketBeat.com’s free email newsletter.