Cadence Bank (NYSE:CADE) Announces Earnings Results

Cadence Bank (NYSE:CADE) issued its quarterly earnings results 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 business had revenue of $437.69 million during the quarter, compared to analysts’ expectations of $427.18 million. Cadence Bank had a return on equity of 9.55% and a net margin of 23.33%. The business’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.68 earnings per share.

Cadence Bank Stock Up 2.2 %

Cadence Bank stock opened at $27.76 on Tuesday. The business has a fifty day moving average price of $27.56 and a 200-day moving average price of $26.46. Cadence Bank has a 1-year low of $16.95 and a 1-year high of $31.45. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 9.54 and a beta of 1.02.

Cadence Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.25 dividend. This is a boost from Cadence Bank’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.60%. Cadence Bank’s dividend payout ratio (DPR) is presently 34.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CADE shares. 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. Jefferies Financial Group reduced their price target on Cadence Bank from $30.00 to $29.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Hovde Group downgraded Cadence Bank from an “outperform” rating to a “market perform” rating and set a $32.50 price target on the stock. in a report on Tuesday, January 30th. TheStreet downgraded Cadence Bank from a “b” rating to a “c” rating in a report on Tuesday, January 30th. Finally, Truist Financial raised their price objective on Cadence Bank from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.65.

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.