Cadence Bank (CADE) Projected to Post Earnings on Wednesday

Cadence Bank (NYSE:CADE) is expected to issue its quarterly earnings data after the market closes on Wednesday, January 22nd. Analysts expect the company to announce earnings of $0.68 per share and revenue of $457,781.63 billion for the quarter.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Monday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.09. The firm had revenue of $447.36 million during the quarter, compared to analysts’ expectations of $450.97 million. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the business posted $0.56 earnings per share. On average, analysts expect Cadence Bank to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Cadence Bank Stock Performance

NYSE CADE traded up $0.59 during trading hours on Wednesday, reaching $35.69. The stock had a trading volume of 1,774,037 shares, compared to its average volume of 1,270,830. Cadence Bank has a 52-week low of $24.99 and a 52-week high of $40.20. The stock has a fifty day moving average of $36.43 and a 200 day moving average of $33.18. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $6.50 billion, a P/E ratio of 10.26 and a beta of 1.00.

Cadence Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend was Friday, December 13th. Cadence Bank’s dividend payout ratio (DPR) is currently 28.74%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $36.00 to $39.00 in a research note on Monday, September 30th. Keefe, Bruyette & Woods raised their target price on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. 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 note on Thursday, December 19th. Truist Financial upped their target price on Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada increased their target price 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. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.32.

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.