Cadence Bank reports results for the quarter ended in December - Earnings Summary

Cadence Bank

30/01/2024 07:22

* Cadence Bank  CADE.N  reported quarterly adjusted earnings
of 40
cents​​ per share for the quarter ended in December, lower than
the same quarter last year, when the company reported EPS of 52
cents.  The mean expectation of thirteen analysts for the
quarter was for earnings of 53 cents per share. Wall Street
expected results to range from 45 cents to 59 cents per share.
    * Revenue fell 95.1% to $23.15 million from a year ago;
analysts
expected $438.87 million. 
    * Cadence Bank's reported EPS for the quarter was $1.41​.
    * The company reported quarterly net income of $256.69
million.
    * Cadence Bank shares had risen by 1.4% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.1%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 7 "strong buy" or "buy," 5
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for Cadence Bank is
$32.00 
This summary was machine generated from LSEG data January 30 at
07:22 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.53           0.40           Missed
 Sep. 30 2023      0.57           0.56           Missed
 Jun. 30 2023      0.67           0.60           Missed
 Mar. 31 2023      0.66           0.40           Missed