Cadence Bank (NYSE:CADE) Releases Earnings Results

Cadence Bank (NYSE:CADE) announced its quarterly earnings data on Monday. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.09, Yahoo Finance reports. Cadence Bank had a net margin of 24.42% and a return on equity of 8.82%. The firm had revenue of $447.36 million during the quarter, compared to analysts’ expectations of $450.97 million. During the same period in the prior year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year.

Cadence Bank Stock Down 0.4 %

Shares of NYSE:CADE opened at $32.33 on Tuesday. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 10.37 and a beta of 0.96. Cadence Bank has a 12 month low of $19.67 and a 12 month high of $34.13. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average price of $31.46 and a 200 day moving average price of $29.80.

Cadence Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Friday, September 13th. Cadence Bank’s dividend payout ratio is 31.95%.

Analysts Set New Price Targets

A number of research firms have commented on CADE. Jefferies Financial Group decreased their price target on Cadence Bank from $31.00 to $29.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Morgan Stanley raised Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $36.00 to $39.00 in a research note on Monday, September 30th. Stephens reissued an “overweight” rating and issued a $35.00 price target on shares of Cadence Bank in a report on Tuesday, July 23rd. Hovde Group increased their price objective on shares of Cadence Bank from $33.00 to $36.50 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Truist Financial lowered their target price on shares of Cadence Bank from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, September 20th. 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 data from MarketBeat.com, Cadence Bank has an average rating of “Moderate Buy” and an average target price of $34.88.

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.