Cadence Bank (CADE) to Release Quarterly Earnings on Monday

Cadence Bank (NYSE:CADE) will issue its quarterly earnings data after the market closes on Monday, April 22nd. Analysts expect the company to announce earnings of $0.49 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings data on Monday, January 29th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.13). Cadence Bank had a return on equity of 9.55% and a net margin of 23.33%. The company had revenue of $23.15 million for the quarter, compared to analyst estimates of $433.99 million. On average, analysts expect Cadence Bank to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Cadence Bank Trading Down 0.6 %

NYSE:CADE opened at $26.83 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.86 and a quick ratio of 0.85. Cadence Bank has a fifty-two week low of $16.95 and a fifty-two week high of $31.45. The stock’s 50-day moving average is $27.48 and its two-hundred day moving average is $26.20. The stock has a market cap of $4.90 billion, a PE ratio of 9.22 and a beta of 1.02.

Cadence Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Cadence Bank’s previous quarterly dividend of $0.24. Cadence Bank’s payout ratio is 34.36%.

Institutional Trading of Cadence Bank

Several large investors have recently made changes to their positions in CADE. Norges Bank acquired a new stake in shares of Cadence Bank during the fourth quarter worth about $46,972,000. Balyasny Asset Management L.P. bought a new position in Cadence Bank in the first quarter valued at approximately $20,697,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of Cadence Bank by 29.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,324,626 shares of the company’s stock worth $106,646,000 after acquiring an additional 971,590 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of Cadence Bank during the 1st quarter worth approximately $18,997,000. Finally, First Trust Advisors LP boosted its stake in shares of Cadence Bank by 207.1% during the 1st quarter. First Trust Advisors LP now owns 843,078 shares of the company’s stock worth $17,502,000 after acquiring an additional 568,540 shares during the period. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CADE. TheStreet cut Cadence Bank from a “b” rating to a “c” rating in a research note on Tuesday, January 30th. Hovde Group lowered Cadence Bank from an “outperform” rating to a “market perform” rating and set a $32.50 price target for the company. in a report on Tuesday, January 30th. Raymond James cut their price target on Cadence Bank from $35.00 to $34.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 31st. Jefferies Financial Group cut their price target on Cadence Bank from $30.00 to $29.00 and set a “hold” rating for the company in a report on Monday, April 8th. Finally, Truist Financial upped their price target on Cadence Bank from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.65.

Cadence Bank Company Profile

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.