Cadence Bank (NYSE:CADE) Releases Earnings Results, Beats Expectations By $0.07 EPS

Cadence Bank (NYSE:CADE) posted its quarterly earnings data on Monday. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.64 by $0.07, Zacks reports. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%.

Cadence Bank Trading Down 1.0 %

Shares of Cadence Bank stock traded down $0.27 on Monday, hitting $27.64. The stock had a trading volume of 1,592,509 shares, compared to its average volume of 1,270,530. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 9.98 and a beta of 0.87. Cadence Bank has a 52-week low of $25.22 and a 52-week high of $40.20. The company’s 50 day moving average price is $30.44 and its 200 day moving average price is $33.60.

Cadence Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.275 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 3.98%. Cadence Bank’s payout ratio is 39.71%.

Wall Street Analyst Weigh In

CADE has been the subject of several analyst reports. Hovde Group lowered their price objective on Cadence Bank from $40.00 to $35.00 and set a “market perform” rating for the company in a research report on Wednesday, April 2nd. Citigroup boosted their price target on Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Stephens reissued an “overweight” rating and issued a $42.00 price objective on shares of Cadence Bank in a report on Thursday, January 23rd. Barclays reduced their target price on Cadence Bank from $44.00 to $38.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $38.00 price target on shares of Cadence Bank in a research note on Friday, January 24th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.09.

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.