What is DA Davidson’s Forecast for Cadence Bank Q4 Earnings?

Cadence Bank (NYSE:CADE) – DA Davidson issued their Q4 2024 EPS estimates for Cadence Bank in a research report issued on Wednesday, October 23rd. DA Davidson analyst G. Tenner anticipates that the company will earn $0.69 per share for the quarter. 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.

Cadence Bank (NYSE:CADE) last issued its earnings results on Monday, October 21st. The company reported $0.73 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 analyst estimates of $450.97 million. Cadence Bank had a return on equity of 8.82% and a net margin of 24.42%. Cadence Bank’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.56 earnings per share.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada upped their target price on Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Wednesday. Hovde Group upped their price objective on Cadence Bank from $33.00 to $36.50 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Barclays upped their price objective on Cadence Bank from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Piper Sandler lowered Cadence Bank from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $33.00 to $34.00 in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group lowered their price objective on Cadence Bank from $31.00 to $29.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $35.29.

Cadence Bank Price Performance

Shares of NYSE CADE opened at $33.09 on Thursday. The business’s 50 day moving average price is $31.83 and its 200 day moving average price is $29.97. The firm has a market cap of $6.03 billion, a P/E ratio of 10.57 and a beta of 0.96. Cadence Bank has a 52 week low of $20.52 and a 52 week high of $34.25. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.05.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CADE. Vanguard Group Inc. raised its stake in Cadence Bank by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 20,271,283 shares of the company’s stock valued at $587,867,000 after purchasing an additional 940,895 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Cadence Bank by 32.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 68,892 shares of the company’s stock valued at $1,998,000 after purchasing an additional 16,850 shares during the last quarter. Entropy Technologies LP acquired a new position in Cadence Bank in the 1st quarter valued at $716,000. Blue Trust Inc. raised its stake in Cadence Bank by 456.6% in the 2nd quarter. Blue Trust Inc. now owns 21,667 shares of the company’s stock valued at $628,000 after purchasing an additional 17,774 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in Cadence Bank by 14.8% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,759,818 shares of the company’s stock valued at $51,034,000 after purchasing an additional 227,395 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Cadence Bank Dividend Announcement

The firm 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Friday, December 13th. Cadence Bank’s payout ratio is 31.95%.

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.