Cadence Bank (CADE) to Issue Quarterly Dividend of $0.25 on January 2nd

Cadence Bank (NYSE:CADE) declared a quarterly dividend on Wednesday, October 23rd,Zacks Dividends reports. Shareholders of record on Friday, December 13th will be paid a dividend of 0.25 per share on Thursday, January 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Friday, December 13th.

Cadence Bank has increased its dividend payment by an average of 8.1% per year over the last three years and has increased its dividend every year for the last 13 years. Cadence Bank has a dividend payout ratio of 35.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cadence Bank to earn $2.88 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 34.7%.

Cadence Bank Trading Down 0.6 %

Shares of NYSE CADE opened at $36.88 on Wednesday. Cadence Bank has a 12-month low of $24.99 and a 12-month high of $40.20. The company has a market cap of $6.72 billion, a price-to-earnings ratio of 10.60 and a beta of 0.98. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. The stock’s 50 day simple moving average is $35.33 and its 200 day simple moving average is $31.95.

Cadence Bank (NYSE:CADE) last posted its earnings results on Monday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.09. The firm had revenue of $447.36 million during the quarter, compared to analyst estimates of $450.97 million. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. Cadence Bank’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.56 EPS. Equities research analysts expect that Cadence Bank will post 2.71 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Royal Bank of Canada boosted their price target on Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. DA Davidson increased their target price on shares of Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their price target on shares of Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Truist Financial increased their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley raised Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $36.00 to $39.00 in a report on Monday, September 30th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Cadence Bank has an average rating of “Moderate Buy” and an average price target of $36.63.

Cadence Bank Company Profile

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.