Cadence Bank (NYSE:CADE) Declares $0.28 Quarterly Dividend

Cadence Bank (NYSE:CADE) announced a quarterly dividend on Wednesday, October 22nd. Stockholders of record on Monday, December 15th will be given a dividend of 0.275 per share on Friday, January 2nd. This represents a c) annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, December 15th.

Cadence Bank has a payout ratio of 32.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cadence Bank to earn $3.20 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 34.4%.

Cadence Bank Trading Down 0.8%

Shares of Cadence Bank stock opened at $35.36 on Thursday. The stock has a fifty day simple moving average of $37.33 and a 200 day simple moving average of $33.59. Cadence Bank has a 12-month low of $25.22 and a 12-month high of $40.23. The company has a market capitalization of $6.44 billion, a P/E ratio of 12.81 and a beta of 0.88. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.25.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings results on Monday, October 20th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.04. Cadence Bank had a return on equity of 10.08% and a net margin of 18.15%.The business had revenue of $517.24 million during the quarter, compared to the consensus estimate of $523.60 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. On average, sell-side analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Institutional Trading of Cadence Bank

Institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas raised its holdings in shares of Cadence Bank by 312.7% in the 1st quarter. Teacher Retirement System of Texas now owns 49,592 shares of the company’s stock valued at $1,506,000 after acquiring an additional 37,576 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Cadence Bank by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 425,330 shares of the company’s stock valued at $12,913,000 after acquiring an additional 5,221 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Cadence Bank by 3.1% in the 1st quarter. State of Alaska Department of Revenue now owns 21,500 shares of the company’s stock valued at $652,000 after acquiring an additional 640 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Cadence Bank by 2.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 69,707 shares of the company’s stock valued at $2,116,000 after acquiring an additional 1,670 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Cadence Bank by 55.3% in the 1st quarter. GAMMA Investing LLC now owns 2,892 shares of the company’s stock valued at $88,000 after acquiring an additional 1,030 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.