Cadence Bank to Post Q3 2022 Earnings of $0.74 Per Share, DA Davidson Forecasts (NYSE:CADE)

Cadence Bank (NYSE:CADEGet Rating) – Equities researchers at DA Davidson issued their Q3 2022 EPS estimates for Cadence Bank in a research report issued to clients and investors on Tuesday, August 2nd. DA Davidson analyst K. Fitzsimmons expects that the company will earn $0.74 per share for the quarter. The consensus estimate for Cadence Bank’s current full-year earnings is $2.92 per share. DA Davidson also issued estimates for Cadence Bank’s FY2023 earnings at $3.47 EPS.

Cadence Bank (NYSE:CADEGet Rating) last announced its earnings results on Monday, July 25th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.66 by $0.02. Cadence Bank had a net margin of 17.35% and a return on equity of 11.01%. During the same quarter in the previous year, the business earned $0.86 earnings per share.

CADE has been the topic of several other reports. TheStreet raised shares of Cadence Bank from a “c+” rating to a “b-” rating in a research report on Friday, May 27th. Stephens upped their price target on shares of Cadence Bank to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Raymond James dropped their price target on shares of Cadence Bank from $35.00 to $32.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 7th. Piper Sandler dropped their price target on shares of Cadence Bank to $33.00 in a research report on Monday, July 4th. Finally, Jefferies Financial Group dropped their price objective on shares of Cadence Bank from $28.00 to $26.00 in a research report on Monday, July 11th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $31.33.

Cadence Bank Stock Performance

NYSE CADE opened at $25.87 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.11. The firm’s fifty day moving average price is $24.66 and its two-hundred day moving average price is $27.49. Cadence Bank has a 1 year low of $22.04 and a 1 year high of $34.24. The firm has a market capitalization of $2.81 billion, a P/E ratio of 15.13 and a beta of 1.07.

Cadence Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Wednesday, September 14th. Cadence Bank’s payout ratio is presently 51.46%.

Hedge Funds Weigh In On Cadence Bank

Hedge funds have recently bought and sold shares of the business. Shaker Investments LLC OH bought a new position in Cadence Bank during the first quarter worth about $654,000. Rhumbline Advisers increased its position in Cadence Bank by 86.8% during the fourth quarter. Rhumbline Advisers now owns 620,175 shares of the company’s stock worth $18,475,000 after acquiring an additional 288,133 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Cadence Bank by 115.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,467 shares of the company’s stock worth $848,000 after acquiring an additional 15,274 shares during the period. Oregon Public Employees Retirement Fund increased its position in Cadence Bank by 25.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 63,452 shares of the company’s stock worth $1,890,000 after acquiring an additional 12,923 shares during the period. Finally, Brown Advisory Inc. bought a new position in Cadence Bank during the fourth quarter worth about $288,000. 71.03% of the stock is owned by institutional investors.

About Cadence Bank

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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 and Estimates for Cadence Bank (NYSE:CADE)

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