Wall Street brokerages expect Cadence Bancorp (NYSE:CADE) to post $0.58 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have issued estimates for Cadence Bancorp’s earnings, with estimates ranging from $0.55 to $0.61. Cadence Bancorp reported earnings per share of $0.57 in the same quarter last year, which suggests a positive year-over-year growth rate of 1.8%. The company is scheduled to issue its next earnings report on Monday, July 22nd.
According to Zacks, analysts expect that Cadence Bancorp will report full year earnings of $2.36 per share for the current financial year, with EPS estimates ranging from $2.30 to $2.45. For the next year, analysts anticipate that the firm will post earnings of $2.47 per share, with EPS estimates ranging from $2.34 to $2.52. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for Cadence Bancorp.
Cadence Bancorp (NYSE:CADE) last issued its earnings results on Monday, April 29th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.49 by $0.08. The company had revenue of $200.00 million during the quarter, compared to analyst estimates of $185.47 million. Cadence Bancorp had a return on equity of 13.06% and a net margin of 25.71%. The business’s revenue was up 72.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 EPS.
A number of research firms recently issued reports on CADE. Goldman Sachs Group began coverage on Cadence Bancorp in a research report on Tuesday, March 5th. They set a “buy” rating and a $23.00 price objective for the company. Raymond James boosted their price objective on Cadence Bancorp from $24.00 to $25.00 and gave the company a “strong-buy” rating in a research report on Tuesday, March 5th. Zacks Investment Research upgraded Cadence Bancorp from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Wednesday, March 13th. TheStreet upgraded Cadence Bancorp from a “d+” rating to a “c-” rating in a research report on Monday, April 15th. Finally, Stephens restated a “buy” rating and set a $26.00 price objective on shares of Cadence Bancorp in a research report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $25.44.
In other Cadence Bancorp news, insider David F. Black sold 22,500 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $21.30, for a total transaction of $479,250.00. Following the completion of the transaction, the insider now owns 29,685 shares in the company, valued at approximately $632,290.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph W. Evans sold 49,724 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $22.83, for a total value of $1,135,198.92. Following the transaction, the director now owns 405,450 shares of the company’s stock, valued at approximately $9,256,423.50. The disclosure for this sale can be found here. Insiders have sold a total of 81,224 shares of company stock valued at $1,817,309 in the last quarter. 3.34% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC boosted its position in Cadence Bancorp by 36.7% during the 1st quarter. Global Retirement Partners LLC now owns 1,882 shares of the company’s stock worth $35,000 after acquiring an additional 505 shares during the period. Truewealth LLC acquired a new position in Cadence Bancorp during the 1st quarter worth $35,000. Caz Investments LP acquired a new position in Cadence Bancorp during the 4th quarter worth $34,000. Bank of Montreal Can boosted its position in Cadence Bancorp by 205.4% during the 4th quarter. Bank of Montreal Can now owns 2,559 shares of the company’s stock worth $43,000 after acquiring an additional 1,721 shares during the period. Finally, Toronto Dominion Bank bought a new stake in shares of Cadence Bancorp in the 1st quarter worth $75,000. Institutional investors own 91.99% of the company’s stock.
Shares of CADE traded down $0.25 during mid-day trading on Tuesday, hitting $19.91. The stock had a trading volume of 1,400,383 shares, compared to its average volume of 1,378,259. The stock has a market capitalization of $2.65 billion, a P/E ratio of 9.62 and a beta of 1.76. The company’s fifty day moving average price is $20.33. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.99 and a current ratio of 1.00. Cadence Bancorp has a fifty-two week low of $16.13 and a fifty-two week high of $29.97.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a dividend of $0.175 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.70 dividend on an annualized basis and a yield of 3.52%. Cadence Bancorp’s dividend payout ratio (DPR) is presently 33.82%.
Cadence Bancorp Company Profile
Cadence Bancorporation, a financial holding company, through its subsidiary, Cadence Bank, National Association, provides commercial banking products and services to middle-market commercial businesses, high net worth individuals, business owners, and retail customers in the United States. The company operates through Banking and Financial Services segments.
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