Cadence Bank (NYSE:CADE – Free Report) – Stock analysts at DA Davidson lifted their FY2024 EPS estimates for shares of Cadence Bank in a report issued on Wednesday, October 23rd. DA Davidson analyst G. Tenner now expects that the company will post earnings of $2.73 per share for the year, up from their prior estimate of $2.55. DA Davidson currently has a “Buy” rating and a $40.00 target price on the stock. The consensus estimate for Cadence Bank’s current full-year earnings is $2.57 per share. DA Davidson also issued estimates for Cadence Bank’s FY2025 earnings at $2.88 EPS.
Cadence Bank (NYSE:CADE – Get Free Report) last announced 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. The firm had revenue of $447.36 million for the quarter, compared to analysts’ expectations of $450.97 million. Cadence Bank had a return on equity of 8.82% and a net margin of 24.42%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $0.56 earnings per share.
Get Our Latest Analysis on Cadence Bank
Cadence Bank Trading Up 0.2 %
Shares of CADE stock opened at $33.90 on Friday. The business has a 50-day moving average of $31.78 and a 200 day moving average of $29.94. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.86 and a quick ratio of 0.86. Cadence Bank has a 1-year low of $19.94 and a 1-year high of $34.25. The stock has a market capitalization of $6.18 billion, a PE ratio of 10.83 and a beta of 0.96.
Hedge Funds Weigh In On Cadence Bank
Several institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new stake in Cadence Bank during the 3rd quarter valued at about $25,000. GAMMA Investing LLC increased its position in shares of Cadence Bank by 77.0% during the second quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock valued at $28,000 after acquiring an additional 436 shares in the last quarter. Innealta Capital LLC purchased a new position in Cadence Bank in the 2nd quarter worth approximately $138,000. Davis Investment Partners LLC bought a new position in Cadence Bank in the 3rd quarter valued at approximately $202,000. Finally, Moody Lynn & Lieberson LLC bought a new position in Cadence Bank in the 3rd quarter valued at approximately $220,000. 84.61% of the stock is currently owned by institutional investors.
Cadence Bank Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.25 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.95%. Cadence Bank’s dividend payout ratio is currently 31.95%.
Cadence Bank Company Profile
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.
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