Cadence Bank (CADE) Projected to Post Quarterly Earnings on Monday

Cadence Bank (NYSE:CADE) is anticipated to post its quarterly earnings results after the market closes on Monday, April 21st. Analysts expect Cadence Bank to post earnings of $0.64 per share and revenue of $451.61 million for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. During the same quarter in the prior year, the company earned $0.40 EPS. 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 Down 0.2 %

Shares of CADE opened at $27.84 on Friday. The firm has a market cap of $5.07 billion, a PE ratio of 10.05 and a beta of 0.87. The company’s fifty day moving average is $30.44 and its two-hundred day moving average is $33.58. Cadence Bank has a fifty-two week low of $25.22 and a fifty-two week high of $40.20.

Cadence Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.275 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.10 dividend on an annualized basis and a yield of 3.95%. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s dividend payout ratio (DPR) is presently 39.71%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Stephens restated an “overweight” rating and issued a $42.00 price objective on shares of Cadence Bank in a report on Thursday, January 23rd. Citigroup raised their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Hovde Group decreased their price objective on shares of Cadence Bank from $40.00 to $35.00 and set a “market perform” rating for the company in a research note on Wednesday, April 2nd. Barclays cut their target price on shares of Cadence Bank from $44.00 to $38.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $38.00 price target on shares of Cadence Bank in a research report on Friday, January 24th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cadence Bank presently has an average 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.