Cadence Bank [NYSE: CADE] closed the trading session at $26.04. The company report on January 29, 2024 at 4:30 PM that Cadence Bank Announces Fourth Quarter 2023 and Annual Financial Results.
Cadence Bank (NYSE: CADE) (the Company), today announced financial results for the quarter and year ended December 31, 2023. Given the sale of Cadence Insurance, Inc. (“Cadence Insurance”) in the fourth quarter of 2023, the financial results presented consist of both continuing operations and discontinued operations. The discontinued operations include the financial results of Cadence Insurance prior to the sale, as well as the associated gain on sale in the fourth quarter of 2023. The discontinued operations results are presented as a single line item below income from continuing operations in the accompanying tables for all periods presented. All adjusted financial results discussed herein are adjusted results from continuing operations.
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The stocks have a year to date performance of -12.00 percent and weekly performance of -11.37 percent. The stock has been moved at 4.33 percent over the last six months. The stock has performed -11.64 percent around the most recent 30 days and changed 22.95 percent over the most recent 3-months.
If compared to the average trading volume of 1.44M shares, CADE reached to a volume of 3338575 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Cadence Bank [CADE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CADE shares is $30.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CADE stock is a recommendation set at 2.23. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Hovde Group have made an estimate for Cadence Bank shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on January 30, 2024.
The Average True Range (ATR) for Cadence Bank is set at 1.01, with the Price to Sales ratio for CADE stock in the period of the last 12 months amounting to 2.07. The Price to Book ratio for the last quarter was 0.95. Price to Free Cash Flow for CADE in the course of the last twelve months was 5.91.
CADE stock trade performance evaluation
Cadence Bank [CADE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.37. With this latest performance, CADE shares dropped by -11.64% in over the last four-week period, additionally plugging by 4.33% over the last 6 months – not to mention a rise of 1.80% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CADE stock in for the last two-week period is set at 34.54, with the RSI for the last a single of trading hit 27.33, and the three-weeks RSI is set at 40.35 for Cadence Bank [CADE]. The present Moving Average for the last 50 days of trading for this stock 28.12, while it was recorded at 28.10 for the last single week of trading, and 23.02 for the last 200 days.
Cadence Bank [CADE]: An insightful look at the core fundamentals
Cadence Bank’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.13.
Earnings per share (EPS) analysis for Cadence Bank [CADE] stock
With the latest financial reports released by the company, Cadence Bank posted 0.68/share EPS, while the average EPS was predicted by analysts to be reported at 0.66/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CADE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cadence Bank go to 5.00%.
Cadence Bank [CADE]: Institutional Ownership
The top three institutional holders of CADE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CADE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CADE stock with ownership which is approximately 5.8325%.
