Cadence Bank (NYSE:CADE) Issues Earnings Results

Cadence Bank (NYSE:CADE) announced its quarterly earnings results on Wednesday. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02, Zacks reports. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%.

Cadence Bank Stock Performance

Shares of CADE stock traded down $0.00 during trading on Wednesday, reaching $35.93. The company had a trading volume of 1,431,171 shares, compared to its average volume of 1,247,942. The company has a market capitalization of $6.55 billion, a PE ratio of 10.32 and a beta of 1.00. The firm’s 50 day simple moving average is $36.16 and its two-hundred day simple moving average is $33.44. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. Cadence Bank has a one year low of $24.99 and a one year high of $40.20.

Cadence Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Wednesday, February 5th will be paid a dividend of $0.275 per share. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.06%. Cadence Bank’s dividend payout ratio (DPR) is 28.74%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their price objective on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $41.00 to $44.00 in a report on Thursday, December 19th. Morgan Stanley raised Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $36.00 to $39.00 in a report on Monday, September 30th. DA Davidson upped their target price on Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Truist Financial upped their target price on Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cadence Bank currently has an average rating of “Moderate Buy” and an average price target of $37.32.

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.