Equities research analysts forecast that Cadence Bancorporation (NYSE:CADE) will announce $183.61 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Cadence Bancorporation’s earnings, with the lowest sales estimate coming in at $181.40 million and the highest estimate coming in at $186.93 million. Cadence Bancorporation posted sales of $186.63 million during the same quarter last year, which indicates a negative year over year growth rate of 1.6%. The firm is expected to issue its next earnings results on Wednesday, October 20th.
On average, analysts expect that Cadence Bancorporation will report full year sales of $730.09 million for the current fiscal year, with estimates ranging from $710.25 million to $748.11 million. For the next fiscal year, analysts forecast that the firm will post sales of $708.13 million, with estimates ranging from $690.20 million to $726.22 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Cadence Bancorporation.
Cadence Bancorporation (NYSE:CADE) last announced its earnings results on Wednesday, July 21st. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.35. The company had revenue of $185.02 million during the quarter, compared to the consensus estimate of $178.68 million. Cadence Bancorporation had a return on equity of 15.67% and a net margin of 46.87%. During the same quarter in the prior year, the company earned ($0.45) earnings per share.
A number of hedge funds and other institutional investors have recently modified their holdings of CADE. Parametric Portfolio Associates LLC grew its stake in Cadence Bancorporation by 21.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 768,415 shares of the company’s stock valued at $16,045,000 after purchasing an additional 134,256 shares during the last quarter. Morgan Stanley raised its holdings in Cadence Bancorporation by 82.0% in the 2nd quarter. Morgan Stanley now owns 814,180 shares of the company’s stock worth $17,001,000 after purchasing an additional 366,767 shares during the period. Metropolitan Life Insurance Co NY raised its holdings in Cadence Bancorporation by 105,057.1% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 36,805 shares of the company’s stock worth $768,000 after purchasing an additional 36,770 shares during the period. MSD Partners L.P. acquired a new position in Cadence Bancorporation in the 2nd quarter worth about $993,000. Finally, Man Group plc acquired a new position in shares of Cadence Bancorporation during the second quarter valued at approximately $301,000. 92.00% of the stock is owned by institutional investors and hedge funds.
CADE opened at $20.86 on Wednesday. The stock has a fifty day simple moving average of $20.19 and a two-hundred day simple moving average of $21.23. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 5.79 and a beta of 1.87. Cadence Bancorporation has a 12-month low of $7.73 and a 12-month high of $23.88.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Friday, August 6th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Thursday, August 5th. Cadence Bancorporation’s payout ratio is currently 81.08%.
About Cadence Bancorporation
Cadence Bancorp. is a bank holding company, which engages in the provision of corporations, middle-market companies, small businesses, and consumers with banking and financial solutions through its subsidiary, Cadence Bank NA. It operates through the following segments: Banking, Financial Services, and Corporate.
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