Recap: Cadence Bank Q4 Earnings
Portfolio Pulse from Benzinga Insights
Cadence Bank (NYSE:CADE) reported Q4 earnings with an EPS of $0.4, missing estimates by 24.53% against the expected $0.53. Revenue also declined to $451.09 million compared to the same period last year. Despite a miss in the last quarter's EPS by $0.01, the share price increased by 5.23% the following day. Historical earnings data shows mixed results in meeting EPS estimates over the past four quarters.
January 29, 2024 | 9:45 pm
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Cadence Bank reported lower than expected Q4 earnings with an EPS of $0.4, missing the $0.53 estimate, and a year-over-year revenue decline. Historical data shows inconsistency in meeting EPS estimates.
The miss in both EPS and revenue is likely to negatively impact investor sentiment in the short term, as earnings are a significant driver of stock performance. However, the historical increase in share price following the last earnings miss suggests that the market may have already priced in some level of inconsistency in earnings performance.
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