Cadence Bank (CADE) Set to Announce Earnings on Monday

Cadence Bank (NYSE:CADEGet Rating) is set to release its earnings data after the market closes on Monday, January 30th. Analysts expect Cadence Bank to post earnings of $0.75 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Cadence Bank (NYSE:CADEGet Rating) last announced its quarterly earnings data on Monday, October 24th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. The firm had revenue of $479.85 million during the quarter, compared to the consensus estimate of $464.68 million. Cadence Bank had a return on equity of 11.92% and a net margin of 17.78%. 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 Performance

NYSE:CADE traded down $0.16 during trading on Tuesday, reaching $25.01. The company’s stock had a trading volume of 761,451 shares, compared to its average volume of 1,134,077. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 14.54 and a beta of 1.02. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.72 and a current ratio of 0.73. The firm has a 50 day moving average of $25.93 and a 200-day moving average of $26.19. Cadence Bank has a 12 month low of $22.04 and a 12 month high of $33.23.

Cadence Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.52%. Cadence Bank’s payout ratio is 51.16%.

Institutional Trading of Cadence Bank

A number of institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its holdings in Cadence Bank by 6.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,124,370 shares of the company’s stock worth $91,419,000 after purchasing an additional 182,950 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Cadence Bank by 12.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,913,360 shares of the company’s stock worth $68,406,000 after purchasing an additional 330,303 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Cadence Bank by 25.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,033,794 shares of the company’s stock worth $30,249,000 after purchasing an additional 206,698 shares in the last quarter. Millennium Management LLC lifted its holdings in Cadence Bank by 46.0% during the 2nd quarter. Millennium Management LLC now owns 947,419 shares of the company’s stock worth $22,245,000 after purchasing an additional 298,297 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in Cadence Bank by 15.1% during the 1st quarter. Clearbridge Investments LLC now owns 739,039 shares of the company’s stock worth $21,624,000 after purchasing an additional 96,689 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Morgan Stanley assumed coverage on Cadence Bank in a research note on Monday, December 5th. They set an “equal weight” rating and a $32.00 price target for the company. Janney Montgomery Scott downgraded Cadence Bank from a “buy” rating to a “neutral” rating and increased their price target for the stock from $29.00 to $30.00 in a research note on Thursday, November 17th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.71.

About Cadence Bank

(Get Rating)

Cadence Bank provides commercial banking and financial services in the United States. 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.

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Earnings History for Cadence Bank (NYSE:CADE)

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