Cadence Bank (CADE) to Release Earnings on Monday

Cadence Bank (NYSE:CADE) is scheduled to be posting its quarterly earnings results after the market closes on Monday, April 22nd. Analysts expect Cadence Bank to post earnings of $0.49 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Cadence Bank (NYSE:CADE) last released its quarterly earnings results on Monday, January 29th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.13). The firm had revenue of $23.15 million for the quarter, compared to analyst estimates of $433.99 million. Cadence Bank had a net margin of 23.33% and a return on equity of 9.55%. On average, analysts expect Cadence Bank to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Cadence Bank Price Performance

CADE opened at $27.17 on Friday. The company has a fifty day simple moving average of $27.56 and a 200 day simple moving average of $26.37. The firm has a market cap of $4.96 billion, a price-to-earnings ratio of 9.34 and a beta of 1.02. Cadence Bank has a twelve month low of $16.95 and a twelve month high of $31.45. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09.

Cadence Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.68%. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, March 14th. Cadence Bank’s dividend payout ratio (DPR) is presently 34.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CADE shares. Stephens reiterated an “overweight” rating and set a $32.00 price objective on shares of Cadence Bank in a research note on Tuesday, January 30th. DA Davidson reiterated a “buy” rating on shares of Cadence Bank in a research note on Monday, January 15th. Raymond James reduced their price objective on shares of Cadence Bank from $35.00 to $34.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 31st. Royal Bank of Canada reiterated a “sector perform” rating and set a $31.00 price objective on shares of Cadence Bank in a research note on Tuesday, April 9th. Finally, Barclays assumed coverage on shares of Cadence Bank in a research note on Friday, March 8th. They set an “equal weight” rating and a $28.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.65.

Institutional Trading of Cadence Bank

Hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC lifted its position in Cadence Bank by 117.8% in the 3rd quarter. Lazard Asset Management LLC now owns 10,908 shares of the company’s stock valued at $231,000 after purchasing an additional 5,899 shares during the last quarter. United Capital Financial Advisers LLC bought a new stake in Cadence Bank in the 2nd quarter valued at about $214,000. Guggenheim Capital LLC bought a new stake in Cadence Bank in the 2nd quarter valued at about $210,000. Rockefeller Capital Management L.P. lifted its position in Cadence Bank by 10.7% in the 1st quarter. Rockefeller Capital Management L.P. now owns 10,129 shares of the company’s stock valued at $210,000 after purchasing an additional 977 shares during the last quarter. Finally, Systematic Financial Management LP bought a new stake in Cadence Bank in the 1st quarter valued at about $206,000. 84.61% of the stock is currently owned by institutional investors.

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.