Cadence Bank (NYSE:CADE) Releases Earnings Results, Beats Expectations By $0.08 EPS

Cadence Bank (NYSE:CADE) issued its quarterly earnings data on Monday. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08, Yahoo Finance reports. The firm had revenue of $742.87 million during the quarter, compared to the consensus estimate of $439.63 million. Cadence Bank had a return on equity of 9.00% and a net margin of 24.42%. During the same period last year, the company earned $0.64 EPS.

Cadence Bank Stock Up 1.2 %

Shares of CADE traded up $0.39 during midday trading on Thursday, hitting $33.51. The company had a trading volume of 194,950 shares, compared to its average volume of 1,343,540. The company’s 50-day simple moving average is $28.80 and its 200-day simple moving average is $28.23. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $6.11 billion, a P/E ratio of 10.58 and a beta of 0.98. Cadence Bank has a 1 year low of $19.67 and a 1 year high of $34.13.

Wall Street Analysts Forecast Growth

CADE has been the subject of a number of recent analyst reports. Jefferies Financial Group cut their price objective on Cadence Bank from $31.00 to $29.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. DA Davidson raised their price objective on Cadence Bank from $34.50 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday. Hovde Group lifted their target price on Cadence Bank from $33.00 to $36.50 and gave the company an “outperform” rating in a research report on Wednesday. Barclays lifted their target price on Cadence Bank from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods lifted their target price on Cadence Bank from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.79.

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.