Cadence Bank (NYSE:CADE) Announces Quarterly Earnings Results

Cadence Bank (NYSE:CADE) posted its quarterly earnings data on Monday. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08, Briefing.com reports. The company had revenue of $437.69 million for the quarter, compared to analyst estimates of $427.18 million. Cadence Bank had a return on equity of 9.55% and a net margin of 23.33%. The business’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 earnings per share.

Cadence Bank Trading Up 2.2 %

Shares of CADE stock opened at $27.76 on Tuesday. Cadence Bank has a 12-month low of $16.95 and a 12-month high of $31.45. The company has a market capitalization of $5.07 billion, a PE ratio of 9.54 and a beta of 1.02. The firm has a 50 day moving average price of $27.56 and a two-hundred day moving average price of $26.46. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.09.

Cadence Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a $0.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.60%. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.24. Cadence Bank’s dividend payout ratio is 34.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Jefferies Financial Group dropped their target price on shares of Cadence Bank from $30.00 to $29.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Hovde Group lowered Cadence Bank from an “outperform” rating to a “market perform” rating and set a $32.50 target price on the stock. in a report on Tuesday, January 30th. Morgan Stanley increased their price target on Cadence Bank from $24.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. DA Davidson restated a “buy” rating on shares of Cadence Bank in a research note on Monday, January 15th. Finally, Citigroup upped their price objective on Cadence Bank from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, December 29th. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.65.

About Cadence Bank

Cadence Bank provides commercial banking and financial services. Its products and services include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialized and asset-based lending, commercial real estate, equipment financing, and correspondent banking services.