FY2022 EPS Estimates for Cadence Bank (NYSE:CADE) Lowered by Analyst

Cadence Bank (NYSE:CADEGet Rating) – Investment analysts at DA Davidson cut their FY2022 earnings per share estimates for shares of Cadence Bank in a research note issued on Tuesday, August 2nd. DA Davidson analyst K. Fitzsimmons now anticipates that the company will post earnings of $2.96 per share for the year, down from their prior estimate of $2.97. The consensus estimate for Cadence Bank’s current full-year earnings is $2.92 per share.

Several other equities analysts have also commented on the company. Truist Financial reduced their price target on Cadence Bank from $32.00 to $30.00 in a research report on Wednesday, June 15th. Jefferies Financial Group cut their target price on Cadence Bank from $28.00 to $26.00 in a research report on Monday, July 11th. Stephens upped their target price on Cadence Bank to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Raymond James cut their target price on 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. Finally, TheStreet raised Cadence Bank from a “c+” rating to a “b-” rating in a research report on Friday, May 27th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $31.33.

Cadence Bank Stock Performance

Cadence Bank stock opened at $25.50 on Thursday. The stock’s 50 day moving average price is $24.64 and its 200 day moving average price is $27.43. The firm has a market capitalization of $2.77 billion, a PE ratio of 14.91 and a beta of 1.07. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.70 and a current ratio of 0.70. Cadence Bank has a one year low of $22.04 and a one year high of $34.24.

Cadence Bank (NYSE:CADEGet Rating) last released its quarterly 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 return on equity of 11.01% and a net margin of 17.35%. During the same quarter last year, the firm posted $0.86 EPS.

Cadence Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Wednesday, September 14th. Cadence Bank’s dividend payout ratio is currently 51.46%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CADE. Brown Advisory Inc. bought a new position in shares of Cadence Bank in the fourth quarter worth $288,000. Allspring Global Investments Holdings LLC bought a new position in shares of Cadence Bank in the fourth quarter worth $1,580,000. Yousif Capital Management LLC bought a new position in shares of Cadence Bank in the fourth quarter worth $3,111,000. CWM LLC bought a new position in shares of Cadence Bank in the fourth quarter worth $3,993,000. Finally, Xponance Inc. bought a new position in shares of Cadence Bank in the fourth quarter worth $862,000. 71.03% of the stock is currently owned by institutional investors.

Cadence Bank Company Profile

(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 and Estimates for Cadence Bank (NYSE:CADE)

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