Cadence Bank (CADE) Projected to Post Quarterly Earnings on Wednesday

Cadence Bank (NYSE:CADE) is expected to release its earnings data after the market closes on Wednesday, January 22nd. Analysts expect Cadence Bank to post earnings of $0.68 per share and revenue of $457,781.63 billion for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings results on Monday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.09. The company had revenue of $447.36 million during the quarter, compared to analyst estimates of $450.97 million. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. Cadence Bank’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the business earned $0.56 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 Price Performance

Shares of CADE opened at $35.65 on Tuesday. Cadence Bank has a fifty-two week low of $24.99 and a fifty-two week high of $40.20. The firm’s 50-day simple moving average is $36.21 and its two-hundred day simple moving average is $33.39. The stock has a market cap of $6.50 billion, a PE ratio of 10.24 and a beta of 1.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87.

Cadence Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors 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 2.81%. The ex-dividend date was Friday, December 13th. Cadence Bank’s payout ratio is 28.74%.

Analyst Upgrades and Downgrades

Several analysts have commented on CADE shares. Morgan Stanley upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $36.00 to $39.00 in a research note on Monday, September 30th. Royal Bank of Canada increased their price objective on Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their target price on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. DA Davidson raised 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. Finally, Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $41.00 to $44.00 in a report on Thursday, December 19th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus 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.