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

Cadence Bank (NYSE:CADE) posted its quarterly earnings data on Monday. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08, Briefing.com reports. The business had revenue of $437.69 million for the quarter, compared to analyst estimates of $427.18 million. Cadence Bank had a return on equity of 9.55% and a net margin of 23.33%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 earnings per share.

Cadence Bank Stock Performance

NYSE:CADE opened at $27.76 on Tuesday. The company has a 50-day moving average of $27.56 and a 200-day moving average of $26.46. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 9.54 and a beta of 1.02. 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 has a twelve month low of $16.95 and a twelve month high of $31.45.

Cadence Bank Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $31.00 price target on shares of Cadence Bank in a report on Tuesday, April 9th. Hovde Group cut Cadence Bank from an “outperform” rating to a “market perform” rating and set a $32.50 price target for the company. in a research note on Tuesday, January 30th. DA Davidson restated a “buy” rating on shares of Cadence Bank in a research note on Monday, January 15th. Morgan Stanley upped their price objective on shares of Cadence Bank from $24.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Finally, TheStreet lowered shares of Cadence Bank from a “b” rating to a “c” rating in a research report on Tuesday, January 30th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cadence Bank has an average rating of “Moderate Buy” and an average price target 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.