Cadence Bank (CADE) Scheduled to Post Quarterly Earnings on Monday

Cadence Bank (NYSE:CADE) is scheduled to post its quarterly earnings results after the market closes on Monday, October 21st. Analysts expect Cadence Bank to post earnings of $0.63 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings results on Monday, July 22nd. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08. Cadence Bank had a return on equity of 8.82% and a net margin of 24.42%. The business had revenue of $742.87 million for the quarter, compared to analysts’ expectations of $439.63 million. During the same period in the prior year, the firm earned $0.64 EPS. 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 Stock Up 3.8 %

Shares of CADE stock opened at $32.34 on Monday. Cadence Bank has a 1 year low of $19.67 and a 1 year high of $34.13. The stock has a market cap of $5.89 billion, a PE ratio of 10.33 and a beta of 0.96. The business’s fifty day moving average is $31.07 and its 200-day moving average is $29.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.86 and a current ratio of 0.86.

Cadence Bank Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CADE. Truist Financial dropped their price objective on shares of Cadence Bank from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Royal Bank of Canada increased their price target on shares of Cadence Bank from $31.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, July 24th. Hovde Group increased their price target on shares of Cadence Bank from $33.00 to $36.50 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Piper Sandler cut shares of Cadence Bank from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $33.00 to $34.00 in a research note on Wednesday, July 24th. Finally, Stephens restated an “overweight” rating and issued a $35.00 target price on shares of Cadence Bank in a report on Tuesday, July 23rd. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus 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.