Cadence Bank (NYSE: CADE) stock fell -0.52% on Friday to $26.61 against a previous-day closing price of $26.75. With 2.24 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.05 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $26.96 whereas the lowest price it dropped to was $26.38. The 52-week range on CADE shows that it touched its highest point at $34.24 and its lowest point at $22.04 during that stretch. It currently has a 1-year price target of $31.60. With its current market cap of 4.86 billion, CADE has annualized dividend of $0.88 while the current yield stands at 3.31%. Beta for the stock currently stands at 1.06.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CADE was up-trending over the past week, with a rise of 0.15%, but this was down by -1.41% over a month. Three-month performance surged to 14.16% while six-month performance fell -9.80%. The stock lost -2.09% in the past year, while it has lost -10.67% so far this year. A look at the trailing 12-month EPS for CADE yields 1.70 with Next year EPS estimates of 3.30. For the next quarter, that number is 0.74. This implies an EPS growth rate of -27.30% for this year and 19.01% for next year. EPS is expected to grow by 5.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 1.80%.
Float and Shares Shorts:
At present, 186.14 million CADE shares are outstanding with a float of 182.46 million shares on hand for trading. On Jul 14, 2022, short shares totaled 5.06 million, which was 2.76% higher than short shares on Jun 14, 2022. In addition to Mr. James D. Rollins III as the firm’s Chairman & CEO, Mr. Paul B. Murphy Jr. serves as its Exec. Vice Chairman.
Through their ownership of 77.23% of CADE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 42.41% of CADE, in contrast to 33.61% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in CADE with 10.48% of the stake, The Vanguard Group, Inc. holds 19,323,176 shares worth 19,323,176. A second-largest stockholder of CADE, BlackRock Fund Advisors, holds 15,838,107 shares, controlling over 8.59% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in CADE, holding 8,688,188 shares or 4.71% stake. With a 3.11% stake in CADE, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 5,735,147 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.64% of CADE stock, is the second-largest Mutual Fund holder. It holds 4,871,283 shares valued at 124.12 million. iShares Core S&P Mid Cap ETF holds 2.43% of the stake in CADE, owning 4,482,419 shares worth 114.21 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CADE since 11 analysts follow the stock currently. There are 8 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CADE analysts setting a high price target of $37.00 and a low target of $27.00, the average target price over the next 12 months is $31.60. Based on these targets, CADE could surge 39.05% to reach the target high and rise by 1.47% to reach the target low. Reaching the average price target will result in a growth of 18.75% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CADE will report FY 2022 earnings on 01/24/2023. Analysts have provided yearly estimates in a range of $2.90 being high and $2.47 being low. For CADE, this leads to a yearly average estimate of $2.72. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Cadence Bank surprised analysts by $0.06 when it reported $0.68 EPS against a consensus estimate of $0.62. The surprise factor in the prior quarter was $0.04. Based on analyst estimates, the high estimate for the next quarter is $0.79 and the low estimate is $0.63. The average estimate for the next quarter is thus $0.72.
Summary of Insider Activity:
Insiders traded CADE stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 0 while 0 shares were sold.