Cadence Bank (CADE) to Release Quarterly Earnings on Wednesday

Cadence Bank (NYSE:CADE) will likely be announcing its earnings results after the market closes on Wednesday, January 22nd. Analysts expect the company to announce earnings of $0.68 per share and revenue of $457,781.63 billion for the quarter.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Monday, October 21st. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.64 by $0.09. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. The business had revenue of $447.36 million for the quarter, compared to the consensus estimate of $450.97 million. During the same period in the previous year, the business earned $0.56 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. On average, analysts expect Cadence Bank to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Cadence Bank Price Performance

Shares of CADE stock traded up $0.59 during mid-day trading on Wednesday, hitting $35.69. The company had a trading volume of 1,774,037 shares, compared to its average volume of 1,270,830. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. The stock’s 50 day moving average price is $36.43 and its 200-day moving average price is $33.18. Cadence Bank has a 52-week low of $24.99 and a 52-week high of $40.20. The company has a market capitalization of $6.50 billion, a P/E ratio of 10.26 and a beta of 1.00.

Cadence Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Friday, December 13th. Cadence Bank’s payout ratio is 28.74%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Royal Bank of Canada increased their price target on shares of Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. DA Davidson upped their price target on shares of Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Truist Financial raised their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods upped their target price on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Barclays raised Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $41.00 to $44.00 in a research note on Thursday, December 19th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently 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.