Cadence Bank (NYSE:CADE) Announces Quarterly Earnings Results

Cadence Bank (NYSE:CADE) posted its earnings results on Monday. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.64 by $0.09, Yahoo Finance reports. The firm had revenue of $447.36 million during the quarter, compared to the consensus estimate of $450.97 million. Cadence Bank had a return on equity of 8.82% and a net margin of 24.42%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the company earned $0.56 earnings per share.

Cadence Bank Trading Up 0.1 %

CADE traded up $0.04 during trading on Tuesday, hitting $32.50. The company’s stock had a trading volume of 53,170 shares, compared to its average volume of 1,312,620. Cadence Bank has a twelve month low of $19.67 and a twelve month high of $34.13. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average price is $31.46 and its 200-day moving average price is $29.80. The firm has a market capitalization of $5.92 billion, a P/E ratio of 10.38 and a beta of 0.96.

Cadence Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.08%. The ex-dividend date was Friday, September 13th. Cadence Bank’s dividend payout ratio (DPR) is presently 31.95%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CADE shares. Truist Financial dropped their target price on Cadence Bank from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Hovde Group increased 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, July 24th. Piper Sandler cut Cadence Bank from an “overweight” rating to a “neutral” rating and increased their price target for the company from $33.00 to $34.00 in a research note on Wednesday, July 24th. Barclays upped their target price on Cadence Bank from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Finally, DA Davidson upped their target price on Cadence Bank from $34.50 to $39.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.88.

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.