The markets posted solid gains to turn November into the best-performing month of 2024. All three major indexes – S&P 500, Nasdaq and Dow Jones – witnessed substantial monthly upswings. Donald Trump’s win in the presidential election was the primary factor driving investor optimism. Strong economic growth and the Federal Reserve’s path for a rate cut in December also supported the bullish stance. Last month, all the sectors within the S&P 500 Index moved up. Among the top three best-performing sectors is th ...

For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Cadence (CADE) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.Cadence is one of 871 individual stocks in the Finance sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of ...

ATLANTA, Nov. 20, 2024 /PRNewswire/ -- Cadence Bank (NYSE: CADE) today announced that Brad Silcox has joined the organization as executive vice president and president of asset management and trust.Silcox has spent the past 20 years at Wilmington Trust, a subsidiary of M&T Bank, in various executive leadership roles including president of the Southeast region and chief administrative officer of wealth markets. He is a strategic leader with a proven track record of developing high-performing teams, building ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Eve ...

Cadence (CADE) could be a solid addition to your portfolio given a notable revision in the company's earnings estimates. While the stock has been gaining lately, the trend might continue since its earnings outlook is still improving. The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this bank, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Whi ...

Financial Data and Key Metrics Changes - GAAP net income for Q3 2024 was $134.1 million, or $0.72 per diluted common share, with adjusted net income from continuing operations at $135.6 million, or $0.73 per diluted common share, reflecting a 6% increase compared to Q2 2024 [4][7] - Core customer deposits grew over 11% on an annualized basis, with total deposit growth of approximately $985 million for the quarter, or 10.4% annualized [4][8] - Net interest margin improved to 3.31%, up 4 basis points from the previous year [5][9] Business Line Data and Key Metrics Changes - Loan balances were flat for the quarter, with net declines in non-real estate C&I loans offsetting a 2% overall growth in other loan segments [9] - Non-interest revenue was $88.8 million on an adjusted basis, increasing 3.7% in Q3, driven by broad-based fee growth despite a decline in mortgage banking revenue [11][12] - Total adjusted non-interest expense was just over $260 million, up 3.7% due to merit increases and other factors [13][14] Market Data and Key Metrics Changes - The company maintained a solid allowance for credit losses at 1.38% of loans, with net charge-offs at $22.2 million, or 26 basis points annualized [15][16] - Non-accrual loans increased by $56 million, primarily due to migration of previously criticized credits, but overall credit quality remained stable [15][16] Company Strategy and Development Direction - The company is focused on maintaining strong deposit growth while managing costs effectively, with plans to replace BTFP borrowings with core deposits [11][51] - Management expressed optimism about loan originations outpacing payoff pressures, supported by a robust and diverse loan pipeline [5][28] - The company aims to grow within existing markets rather than pursuing aggressive M&A, focusing on expanding in cities like Tampa, Orlando, and Nashville [39] Management's Comments on Operating Environment and Future Outlook - Management noted that credit quality remains stable and in line with expectations, with no significant concerns observed in the current economic environment [6][15] - The company is optimistic about continued momentum throughout the remainder of 2024 and into 2025, with expectations for improved net interest margins and fee income [17][39] Other Important Information - The company repurchased over 323,000 shares of stock during the quarter, with strong capital metrics including a CET1 ratio of 12.3% [7][16] - Adjusted efficiency ratio for the quarter was 57.7%, reflecting solid expense management [14] Q&A Session Summary Question: Discussion on NIM and loan yields - Management indicated that loan yields are expected to continue increasing modestly due to upcoming repricing of loans at higher rates [18][20] Question: Impact of BTFP paydowns on deposit betas - Management expects deposit costs to peak in the current quarter, with efforts to bring them down while retaining deposit growth [22][24] Question: Loan pipeline and production levels - New loan commitments were approximately $1.7 billion, with a strong pipeline but challenges in retaining loans on the balance sheet due to payoffs [27][28] Question: Expense growth normalization - Management acknowledged the difficulty in defining "normalized" expense growth but indicated that it would be influenced by inflation and ongoing investments in technology and personnel [32][36] Question: Capital management and M&A prospects - The company remains committed to share buybacks and is focused on organic growth within existing markets rather than pursuing aggressive M&A strategies [38][39]

Third Quarter 2024 Earnings Presentation Presented October 22, 2024 Third Quarter 2024 Financial Highlights | --- | --- | |-----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

For the quarter ended September 2024, Cadence (CADE) reported revenue of $447.36 million, down 0.2% over the same period last year. EPS came in at $0.73, compared to $0.56 in the year-ago quarter.The reported revenue represents a surprise of -0.57% over the Zacks Consensus Estimate of $449.9 million. With the consensus EPS estimate being $0.63, the EPS surprise was +15.87%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Cadence (CADE) came out with quarterly earnings of $0.73 per share, beating the Zacks Consensus Estimate of $0.63 per share. This compares to earnings of $0.56 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 15.87%. A quarter ago, it was expected that this bank would post earnings of $0.60 per share when it actually produced earnings of $0.69, delivering a surprise of 15%. Over the last four quarters, the company has surpassed ...