Cadence Bank (NYSE:CADE) Issues Earnings Results

Cadence Bank (NYSE:CADE) issued its earnings results on Wednesday. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02, Zacks reports. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%.

Cadence Bank Stock Performance

Shares of NYSE CADE traded down $0.00 during trading on Wednesday, reaching $35.93. The stock had a trading volume of 1,431,171 shares, compared to its average volume of 1,247,942. Cadence Bank has a one year low of $24.99 and a one year high of $40.20. 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 $6.55 billion, a PE ratio of 10.32 and a beta of 1.00. The firm’s 50 day moving average price is $36.16 and its two-hundred day moving average price is $33.44.

Cadence Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.275 per share. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 3.06%. Cadence Bank’s payout ratio is currently 28.74%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CADE shares. Royal Bank of Canada boosted their target price on shares of Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Truist Financial increased their target price on Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods increased 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. DA Davidson increased their target price on Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $41.00 to $44.00 in a research report on Thursday, December 19th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.32.

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.