CADE - Cadence Bank: Assessing Recent Pain
2024-04-21 10:45:36 ET
Summary
- Cadence Bank's shares have declined 4.2% while the S&P 500 has risen 9.5%.
- Net interest income for Cadence Bank declined by 16.1% in the final quarter of the year, driven by higher interest expenses and security losses.
- The firm has seen other pains as well that are responsible for its share price decline, but this isn't a reason to become pessimistic.
- Similarly, shares are not yet cheap enough to become bullish about either, and investors should monitor the situation closely moving forward.
Toward the end of last year, in late December to be precise, I ended up revisiting a bank that I had analyzed earlier that year. In my initial analysis , I rated the company a ‘buy’. And from that time until the time I downgraded it to a ‘hold’ in December, shares ended up seeing upside of 57.5% while the S&P 500 increased by only 7.9%. But ultimately, I felt as though shares hit fair value. This led me to the aforementioned downgrade. That particular institution happens to be Cadence Bank ( CADE ), a fairly sizable institution with a market capitalization of $5.13 billion as of this writing....
Cadence Bank: Assessing Recent Pain