Cadence Bank (CADE) Set to Announce Earnings on Monday

Cadence Bank (NYSE:CADE) is scheduled to be issuing its quarterly earnings data after the market closes on Monday, April 22nd. Analysts expect the company to announce earnings of $0.49 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Cadence Bank (NYSE:CADE) last released its quarterly earnings results on Monday, January 29th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.13). The company had revenue of $23.15 million during the quarter, compared to analyst estimates of $433.99 million. Cadence Bank had a return on equity of 9.55% and a net margin of 23.33%. On average, analysts expect Cadence Bank to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Cadence Bank Price Performance

Shares of NYSE:CADE opened at $27.17 on Friday. The company has a market cap of $4.96 billion, a P/E ratio of 9.34 and a beta of 1.02. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.09. Cadence Bank has a 52 week low of $16.95 and a 52 week high of $31.45. The business has a fifty day simple moving average of $27.56 and a 200-day simple moving average of $26.33.

Cadence Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.68%. This is an increase from Cadence Bank’s previous quarterly dividend of $0.24. Cadence Bank’s payout ratio is currently 34.36%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CADE. State of Wyoming acquired a new position in Cadence Bank during the fourth quarter worth about $25,000. Sunbelt Securities Inc. raised its stake in shares of Cadence Bank by 102.9% during the 2nd quarter. Sunbelt Securities Inc. now owns 1,800 shares of the company’s stock worth $35,000 after purchasing an additional 913 shares in the last quarter. Covestor Ltd raised its stake in shares of Cadence Bank by 189.8% during the 1st quarter. Covestor Ltd now owns 2,455 shares of the company’s stock worth $72,000 after purchasing an additional 1,608 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Cadence Bank by 312.6% in the 2nd quarter. Lazard Asset Management LLC now owns 5,009 shares of the company’s stock valued at $98,000 after acquiring an additional 3,795 shares in the last quarter. Finally, KBC Group NV bought a new position in shares of Cadence Bank in the 4th quarter valued at approximately $101,000. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CADE. Morgan Stanley upped their price target on Cadence Bank from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Jefferies Financial Group lowered their target price on Cadence Bank from $30.00 to $29.00 and set a “hold” rating for the company in a research note on Monday, April 8th. TheStreet downgraded Cadence Bank from a “b” rating to a “c” rating in a report on Tuesday, January 30th. Barclays assumed coverage on Cadence Bank in a report on Friday, March 8th. They issued an “equal weight” rating and a $28.00 price target for the company. Finally, Hovde Group downgraded Cadence Bank from an “outperform” rating to a “market perform” rating and set a $32.50 target price on the stock. in a report on Tuesday, January 30th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.65.

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.