Regional banking company Cadence Bank (NYSE: CADE) will be announcing earnings results this Thursday before market open. Here’s what to look for.
Cadence Bank missed analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $519.3 million, up 15.1% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ tangible book value per share estimates but a slight miss of analysts’ revenue estimates.
Is Cadence Bank a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Cadence Bank’s revenue to grow 16.2% year on year to $524.7 million, improving from the 10.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.80 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Cadence Bank has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Cadence Bank’s peers in the regional banks segment, some have already reported their Q4 results, giving us a hint as to what we can expect. ServisFirst Bancshares delivered year-on-year revenue growth of 22.9%, beating analysts’ expectations by 6.8%, and Simmons First National reported revenues up 15.9%, topping estimates by 4.1%.
Read our full analysis of ServisFirst Bancshares’s results here and Simmons First National’s results here.
Investors in the regional banks segment have had steady hands going into earnings, with share prices flat over the last month. Cadence Bank’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $43.11 (compared to the current share price of $44.50).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
