FY2025 EPS Estimates for Cadence Bank Lifted by DA Davidson

Cadence Bank (NYSE:CADE - Free Report) - Investment analysts at DA Davidson boosted their FY2025 earnings per share (EPS) estimates for shares of Cadence Bank in a research report issued on Thursday, April 24th. DA Davidson analyst G. Tenner now anticipates that the company will post earnings of $2.82 per share for the year, up from their prior forecast of $2.77. DA Davidson has a "Buy" rating and a $37.00 price objective on the stock. The consensus estimate for Cadence Bank's current full-year earnings is $2.94 per share.

A number of other research firms have also commented on CADE. Hovde Group upped their price target on Cadence Bank from $32.00 to $34.00 and gave the company an "outperform" rating in a research report on Tuesday. Stephens reaffirmed an "overweight" rating and issued a $40.00 price target on shares of Cadence Bank in a research note on Tuesday, April 22nd. Citigroup boosted their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Morgan Stanley decreased their price objective on shares of Cadence Bank from $46.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Finally, Piper Sandler reduced their price target on shares of Cadence Bank from $38.00 to $36.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.27.

Cadence Bank Stock Up 1.8 %

Shares of Cadence Bank stock traded up $0.55 during trading on Monday, reaching $30.24. 68,419 shares of the stock were exchanged, compared to its average volume of 1,286,051. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 10.91 and a beta of 0.87. Cadence Bank has a 1 year low of $25.22 and a 1 year high of $40.20. The stock's fifty day moving average is $29.51 and its 200 day moving average is $33.41.

Cadence Bank (NYSE:CADE - Get Free Report) last issued its earnings results on Monday, April 21st. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.64 by $0.07. The company had revenue of $448.55 million for the quarter, compared to the consensus estimate of $451.61 million. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. During the same period in the previous year, the firm earned $0.62 earnings per share.

Cadence Bank announced that its board has approved a share repurchase plan on Friday, April 25th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board believes its shares are undervalued.

Cadence Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Friday, June 13th. Cadence Bank's dividend payout ratio (DPR) is 38.60%.

Institutional Trading of Cadence Bank

A number of institutional investors have recently made changes to their positions in the stock. Edgestream Partners L.P. bought a new position in Cadence Bank during the first quarter valued at approximately $1,420,000. CWM LLC raised its stake in Cadence Bank by 49.8% during the 1st quarter. CWM LLC now owns 5,799 shares of the company's stock valued at $176,000 after buying an additional 1,928 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Cadence Bank by 1.2% during the 1st quarter. Louisiana State Employees Retirement System now owns 51,400 shares of the company's stock valued at $1,561,000 after buying an additional 600 shares during the period. Xponance Inc. boosted its stake in shares of Cadence Bank by 2.3% in the 1st quarter. Xponance Inc. now owns 26,415 shares of the company's stock worth $802,000 after buying an additional 587 shares during the last quarter. Finally, State of Michigan Retirement System boosted its stake in shares of Cadence Bank by 1.4% in the 1st quarter. State of Michigan Retirement System now owns 43,910 shares of the company's stock worth $1,333,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

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.