Cadence Bank (NYSE: CADE) stock jumped 1.02% on Thursday to $21.73 against a previous-day closing price of $21.51. With 1.27 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.41 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $21.90 whereas the lowest price it dropped to was $21.48. The 52-week range on CADE shows that it touched its highest point at $29.41 and its lowest point at $16.95 during that stretch. It currently has a 1-year price target of $25.54. With its current market cap of 3.96 billion, CADE has annualized dividend of $0.94 while the current yield stands at 4.33%. Beta for the stock currently stands at 1.05.
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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 down-trending over the past week, with a drop of -0.59%, but this was down by -10.83% over a month. Three-month performance surged to 5.95% while six-month performance rose 2.40%. The stock lost -15.68% in the past year, while it has lost -11.88% so far this year. A look at the trailing 12-month EPS for CADE yields 2.19 with Next year EPS estimates of 2.49. For the next quarter, that number is 0.60. This implies an EPS growth rate of 59.80% for this year and -0.84% 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 8.00%.
Float and Shares Shorts:
At present, 182.67 million CADE shares are outstanding with a float of 182.62 million shares on hand for trading. On Aug 30, 2023, short shares totaled 8.43 million, which was 4.61% higher than short shares on Jul 30, 2023. In addition to Mr. James D. Rollins III as the firm’s Chairman & CEO, Mr. Christopher A. Bagley serves as its Pres.
Institutional Ownership:
Through their ownership of 79.83% of CADE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 52.17% of CADE, in contrast to 29.36% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in CADE with 10.16% of the stake, The Vanguard Group, Inc. holds 18,733,715 shares worth 18,733,715. A second-largest stockholder of CADE, BlackRock Fund Advisors, holds 15,925,682 shares, controlling over 8.64% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in CADE, holding 12,727,952 shares or 6.90% stake. With a 3.07% stake in CADE, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 5,661,111 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.57% of CADE stock, is the second-largest Mutual Fund holder. It holds 4,739,299 shares valued at 118.72 million. iShares Core S&P Mid Cap ETF holds 2.55% of the stake in CADE, owning 4,706,476 shares worth 117.9 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CADE since 0 analysts follow the stock currently. 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 $29.00 and a low target of $21.00, the average target price over the next 12 months is $25.88. Based on these targets, CADE could surge 33.46% to reach the target high and fall by -3.36% to reach the target low. Reaching the average price target will result in a growth of 19.1% 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.
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 increased to 38 while that of sell transactions has risen to 35 over the past year. The total number of shares bought during that period was 166,112 while 147,872 shares were sold.
