Cadence Bank (NYSE:CADE) Announces Quarterly Dividend of $0.34

Cadence Bank (NYSE:CADE) declared a quarterly dividend on Tuesday, January 20th. Shareholders of record on Friday, January 30th will be given a dividend of 0.3438 per share on Friday, February 20th. This represents a c) dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, January 30th. This is a 25.0% increase from Cadence Bank’s previous quarterly dividend of $0.28.

Cadence Bank has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Cadence Bank has a payout ratio of 32.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cadence Bank to earn $3.20 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 34.4%.

Cadence Bank Stock Performance

NYSE:CADE opened at $44.50 on Wednesday. The company has a market capitalization of $8.11 billion, a P/E ratio of 16.12 and a beta of 0.95. Cadence Bank has a 12 month low of $25.22 and a 12 month high of $46.02. The firm has a fifty day simple moving average of $42.18 and a 200-day simple moving average of $38.60.

Cadence Bank (NYSE:CADE) last issued its earnings results on Monday, October 20th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. Cadence Bank had a return on equity of 9.97% and a net margin of 18.15%.The company had revenue of $517.24 million during the quarter, compared to analyst estimates of $523.60 million. During the same quarter last year, the business posted $0.73 EPS. Equities analysts forecast that Cadence Bank will post 2.94 EPS for the current year.

About Cadence Bank

Cadence Bank (NYSE: CADE) is a regional commercial bank that offers a full suite of financial services to individuals, businesses and government entities. Through its network of branches and digital platforms, the bank provides deposit accounts, treasury management solutions, commercial and industrial lending, equipment finance, residential and consumer mortgages, and wealth management services. Cadence Bank serves a mix of small and mid-size companies as well as retail customers in its core markets.

The institution traces its heritage to Cadence Bancorporation, which was established in 1987 in Tupelo, Mississippi.