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

Cadence Bank (NYSE:CADE) issued its quarterly earnings data on Tuesday. The company reported $0.62 EPS for the quarter, topping the consensus estimate 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 company had revenue of $437.69 million during the quarter, compared to analyst estimates of $427.18 million. During the same quarter in the previous year, the firm earned $0.68 earnings per share. Cadence Bank’s revenue was up 12.6% on a year-over-year basis.

Cadence Bank Stock Performance

NYSE:CADE opened at $29.37 on Thursday. The firm has a market cap of $5.36 billion, a PE ratio of 9.38 and a beta of 1.02. Cadence Bank has a fifty-two week low of $16.95 and a fifty-two week high of $31.45. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The business has a 50 day moving average price of $27.68 and a 200-day moving average price of $26.53.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Stephens reissued an “overweight” rating and set a $33.00 price objective on shares of Cadence Bank in a report on Tuesday. Barclays boosted their price objective on Cadence Bank from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and set a $31.00 price objective on shares of Cadence Bank in a report on Tuesday, April 9th. TheStreet downgraded Cadence Bank from a “b” rating to a “c” rating in a research report on Tuesday, January 30th. Finally, Morgan Stanley increased their price target on shares of Cadence Bank from $24.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. 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 stock. According to MarketBeat.com, Cadence Bank currently has an average rating of “Moderate Buy” and an average 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.