BancorpSouth (BXS) recently disclosed its financial results for the first quarter, reporting adjusted revenues of $448.55 million. This figure came in slightly below market expectations of $451.05 million, but the company showed resilience in the face of economic uncertainties.
The company's CEO highlighted the positive aspects of the quarter, emphasizing significant strides in both financial performance and strategic growth. BancorpSouth posted robust earnings, supported by an improvement in operating leverage and a broadened net interest margin. This financial strength was achieved while maintaining stable credit quality, despite navigating the current volatile economic landscape.
Moreover, the bank successfully secured all necessary regulatory approvals for its forthcoming merger with First Chatham Bank. This swift approval process means BancorpSouth can expedite the closure of the deal, significantly enhancing its presence in Savannah and other markets in Georgia. The merger is expected to foster further expansion and growth opportunities for the company in these regions.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 11 analysts, the average target price for Cadence Bank (CADE, Financial) is $38.27 with a high estimate of $42.00 and a low estimate of $33.00. The average target implies an upside of 38.72% from the current price of $27.59. More detailed estimate data can be found on the Cadence Bank (CADE) Forecast page.
Based on the consensus recommendation from 11 brokerage firms, Cadence Bank's (CADE, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Cadence Bank (CADE, Financial) in one year is $32.81, suggesting a upside of 18.92% from the current price of $27.59. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Cadence Bank (CADE) Summary page.
