Cadence Bank (NYSE:CADE) Issues Earnings Results

Cadence Bank (NYSE:CADE) posted its earnings results on Wednesday. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02, Zacks reports. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. During the same quarter last year, the firm posted $0.40 earnings per share.

Cadence Bank Trading Down 0.0 %

Cadence Bank stock opened at $35.93 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. The business’s fifty day simple moving average is $36.11 and its two-hundred day simple moving average is $33.46. Cadence Bank has a 12 month low of $24.99 and a 12 month high of $40.20. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of 10.32 and a beta of 1.00.

Cadence Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Wednesday, February 5th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.06%. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s payout ratio is 28.74%.

Analyst Upgrades and Downgrades

CADE has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price target on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Royal Bank of Canada lifted their price target on Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $41.00 to $44.00 in a research report on Thursday, December 19th. Morgan Stanley upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $36.00 to $39.00 in a research report on Monday, September 30th. Finally, DA Davidson boosted their target price on Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.32.

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.