DA Davidson Estimates Cadence Bank's Q4 Earnings (NYSE:CADE)

Cadence Bank (NYSE:CADE - Free Report) - DA Davidson issued their Q4 2024 EPS estimates for shares of Cadence Bank in a research note issued on Wednesday, October 23rd. DA Davidson analyst G. Tenner forecasts that the company will post earnings of $0.69 per share for the quarter. DA Davidson has a "Buy" rating and a $40.00 price objective on the stock. The consensus estimate for Cadence Bank's current full-year earnings is $2.57 per share.

CADE has been the subject of several other research reports. Stephens reaffirmed an "overweight" rating and issued a $35.00 target price on shares of Cadence Bank in a report on Tuesday, July 23rd. Barclays upped their target price on shares of Cadence Bank from $35.00 to $37.00 and gave the stock an "equal weight" rating in a report on Wednesday. Truist Financial upped their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday. Jefferies Financial Group dropped their target price on shares of Cadence Bank from $31.00 to $29.00 and set a "hold" rating for the company in a report on Wednesday, July 3rd. Finally, Piper Sandler downgraded shares of Cadence Bank from an "overweight" rating to a "neutral" rating and upped their target price for the stock from $33.00 to $34.00 in a report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cadence Bank currently has an average rating of "Moderate Buy" and a consensus target price of $35.29.

Cadence Bank Stock Performance

Shares of CADE stock traded up $0.08 during mid-day trading on Thursday, reaching $33.90. 965,246 shares of the company's stock traded hands, compared to its average volume of 1,327,077. Cadence Bank has a 12 month low of $19.94 and a 12 month high of $34.25. The firm has a 50 day moving average price of $31.71 and a two-hundred day moving average price of $29.91. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $6.18 billion, a PE ratio of 10.81 and a beta of 0.96.

Cadence Bank (NYSE:CADE - Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.09. Cadence Bank had a net margin of 24.42% and a return on equity of 8.82%. The firm had revenue of $447.36 million during the quarter, compared to the consensus estimate of $450.97 million. During the same quarter in the previous year, the firm posted $0.56 EPS. The company's revenue for the quarter was up 11.0% compared to the same quarter last year.

Institutional Trading of Cadence Bank

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in Cadence Bank in the 3rd quarter worth about $25,000. GAMMA Investing LLC grew its stake in Cadence Bank by 77.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,002 shares of the company's stock worth $28,000 after acquiring an additional 436 shares in the last quarter. Innealta Capital LLC bought a new position in Cadence Bank in the 2nd quarter worth about $138,000. Davis Investment Partners LLC bought a new position in Cadence Bank in the 3rd quarter worth about $202,000. Finally, Moody Lynn & Lieberson LLC bought a new position in Cadence Bank in the 3rd quarter worth about $220,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

About Cadence Bank

Cadence Bank provides commercial banking and financial services. Its products and services include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialized and asset-based lending, commercial real estate, equipment financing, and correspondent banking services.