Cadence Bank (NYSE:CADE) Announces Earnings Results, Beats Expectations By $0.09 EPS

Cadence Bank (NYSE:CADE) posted its quarterly earnings data on Monday. The company reported $0.73 EPS for the quarter, topping the consensus estimate 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 company had revenue of $447.36 million during the quarter, compared to analyst estimates of $450.97 million. During the same period in the previous year, the firm earned $0.56 earnings per share. Cadence Bank’s quarterly revenue was up 11.0% compared to the same quarter last year.

Cadence Bank Trading Down 0.4 %

NYSE:CADE opened at $32.33 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a 50-day simple moving average of $31.46 and a 200-day simple moving average of $29.80. Cadence Bank has a one year low of $19.67 and a one year high of $34.13. The firm has a market cap of $5.89 billion, a P/E ratio of 10.37 and a beta of 0.96.

Cadence Bank Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently issued reports on CADE. Barclays raised their target price on shares of Cadence Bank from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Piper Sandler downgraded shares of Cadence Bank from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $33.00 to $34.00 in a research note on Wednesday, July 24th. Stephens reaffirmed an “overweight” rating and set a $35.00 target price on shares of Cadence Bank in a research note on Tuesday, July 23rd. Royal Bank of Canada increased their price target on Cadence Bank from $31.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. Finally, Truist Financial dropped their price objective on Cadence Bank from $38.00 to $37.00 and set a “buy” rating for the company in a report on Friday, September 20th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.