Cadence Bank (NYSE:CADE) Posts Earnings Results, Beats Estimates By $0.08 EPS

Cadence Bank (NYSE:CADE) posted its quarterly earnings data on Tuesday. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08, Briefing.com reports. Cadence Bank had a return on equity of 8.97% and a net margin of 23.83%. The firm had revenue of $437.69 million for the quarter, compared to analysts’ expectations of $427.18 million. During the same period in the previous year, the firm earned $0.68 EPS. The business’s quarterly revenue was up 12.6% on a year-over-year basis.

Cadence Bank Stock Performance

NYSE:CADE opened at $29.37 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. Cadence Bank has a 1 year low of $16.95 and a 1 year high of $31.45. The stock’s 50 day simple moving average is $27.68 and its two-hundred day simple moving average is $26.53. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 9.38 and a beta of 1.02.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Stephens reaffirmed an “overweight” rating and set a $33.00 price objective on shares of Cadence Bank in a research report on Tuesday. Citigroup lifted their price objective on Cadence Bank from $27.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, December 29th. Barclays lifted their price objective on Cadence Bank from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Wednesday. Jefferies Financial Group lowered their price objective on Cadence Bank from $30.00 to $29.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Finally, Keefe, Bruyette & Woods boosted their price target on Cadence Bank from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.09.

About Cadence Bank

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.