Cadence Bank (NYSE:CADE) Releases Earnings Results

Cadence Bank (NYSE:CADE) posted its quarterly earnings results on Monday. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08, Yahoo Finance reports. The firm had revenue of $742.87 million for the quarter, compared to analysts’ expectations of $439.63 million. Cadence Bank had a return on equity of 9.00% and a net margin of 24.42%. During the same period in the prior year, the business earned $0.64 EPS.

Cadence Bank Trading Down 1.4 %

NYSE CADE opened at $33.12 on Thursday. The firm has a market capitalization of $6.04 billion, a P/E ratio of 10.58 and a beta of 0.98. The business has a fifty day simple moving average of $28.80 and a 200 day simple moving average of $28.23. Cadence Bank has a 12 month low of $19.67 and a 12 month high of $34.13. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09.

Analyst Ratings Changes

A number of research firms have issued reports on CADE. Hovde Group increased their price target on Cadence Bank from $33.00 to $36.50 and gave the stock an “outperform” rating in a report on Wednesday. DA Davidson increased their price target on Cadence Bank from $34.50 to $39.00 and gave the stock a “buy” rating in a report on Wednesday. Truist Financial increased their price target on Cadence Bank from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday. Jefferies Financial Group cut their price target on Cadence Bank from $31.00 to $29.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada upped their target price on Cadence Bank from $31.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cadence Bank currently has a consensus rating of “Moderate Buy” and an average price target of $33.79.

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.