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

Cadence Bank

22/07/2024 22:58

* Cadence Bank  CADE.N  reported quarterly adjusted earnings
of 69
cents​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of 60
cents.  The mean expectation of thirteen analysts for the
quarter was for earnings of 61 cents per share. Wall Street
expected results to range from 57 cents to 64 cents per share.
    * Revenue fell 1.9% to $456.98 million from a year ago;
analysts
expected $442.65 million. 
    * Cadence Bank's reported EPS for the quarter was 73 cents​.
    * The company reported quarterly net income of $135.1
million.
    * Cadence Bank shares had risen by 12.3% this quarter and
gained 7.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 2.7%
in the last three months.​ 
    * In the last 30 days, two 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," 6
"hold" and no "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
$31.00 
This summary was machine generated from LSEG data July 22 at
09:58 p.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
 Jan. 1 0001       0.61           0.69           Beat
 Mar. 31 2024      0.55           0.62           Beat
 Dec. 31 2023      0.53           0.40           Missed
 Sep. 30 2023      0.57           0.56           Missed