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

Cadence Bank (NYSE:CADE) – Equities research analysts at DA Davidson issued their Q4 2024 earnings estimates for shares of Cadence Bank in a report released on Wednesday, October 23rd. DA Davidson analyst G. Tenner anticipates that the company will post earnings per share of $0.69 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.

A number of other brokerages also recently issued reports on CADE. Truist Financial boosted their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada boosted their price target on shares of Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Piper Sandler downgraded shares of Cadence Bank from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $33.00 to $34.00 in a research report on Wednesday, July 24th. Hovde Group boosted their price target on shares of Cadence Bank from $33.00 to $36.50 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group lowered their price objective on shares of Cadence Bank from $31.00 to $29.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.29.

Cadence Bank Stock Down 0.5 %

NYSE:CADE opened at $33.82 on Thursday. The company has a market cap of $6.16 billion, a PE ratio of 10.81 and a beta of 0.96. Cadence Bank has a one year low of $19.94 and a one year high of $34.25. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s 50 day simple moving average is $31.71 and its 200 day simple moving average is $29.91.

Cadence Bank (NYSE:CADE) last posted its earnings results on Monday, October 21st. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.64 by $0.09. Cadence Bank had a net margin of 24.42% and a return on equity of 8.82%. The business had revenue of $447.36 million for the quarter, compared to the consensus estimate of $450.97 million. During the same period last year, the company earned $0.56 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year.

Institutional Trading of Cadence Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its stake in shares of Cadence Bank by 19.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,488 shares of the company’s stock worth $429,000 after acquiring an additional 2,376 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of 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 worth $51,034,000 after acquiring an additional 227,395 shares in the last quarter. State of Michigan Retirement System grew its stake in shares of Cadence Bank by 2.3% in the 1st quarter. State of Michigan Retirement System now owns 44,810 shares of the company’s stock worth $1,299,000 after acquiring an additional 1,000 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Cadence Bank by 5.4% in the 1st quarter. Principal Financial Group Inc. now owns 826,476 shares of the company’s stock worth $23,968,000 after acquiring an additional 42,267 shares in the last quarter. Finally, Retirement Systems of Alabama grew its stake in shares of Cadence Bank by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 229,380 shares of the company’s stock worth $6,652,000 after acquiring an additional 602 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

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.