Cadence Bank (NYSE:CADE – Get Free Report) will post its quarterly earnings results after the market closes on Monday, July 24th. Analysts expect Cadence Bank to post earnings of $0.65 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.
Cadence Bank (NYSE:CADE – Get Free Report) last announced its quarterly earnings data on Tuesday, April 25th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. The company had revenue of $600.20 million for the quarter, compared to the consensus estimate of $456.09 million. Cadence Bank had a net margin of 19.37% and a return on equity of 13.24%. During the same period in the prior year, the firm posted $0.65 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 2.3 %
Shares of NYSE CADE opened at $20.69 on Monday. The stock has a market cap of $2.25 billion, a PE ratio of 9.15 and a beta of 0.98. The business has a 50-day moving average price of $19.60 and a 200 day moving average price of $22.23. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.11. Cadence Bank has a 52-week low of $16.95 and a 52-week high of $29.41.
Cadence Bank Dividend Announcement
Institutional Investors Weigh In On Cadence Bank
Institutional investors and hedge funds have recently bought and sold shares of the business. State of Wyoming purchased a new stake in shares of Cadence Bank in the fourth quarter valued at $25,000. Covestor Ltd lifted its holdings in shares of Cadence Bank by 189.8% in the first quarter. Covestor Ltd now owns 2,455 shares of the company’s stock valued at $72,000 after purchasing an additional 1,608 shares in the last quarter. Bessemer Group Inc. purchased a new stake in shares of Cadence Bank in the fourth quarter worth approximately $162,000. Journey Strategic Wealth LLC purchased a new stake in shares of Cadence Bank in the first quarter worth approximately $205,000. Finally, Systematic Financial Management LP purchased a new stake in shares of Cadence Bank in the first quarter worth approximately $206,000.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. TheStreet cut shares of Cadence Bank from a “b-” rating to a “c+” rating in a research note on Tuesday, May 2nd. Raymond James lowered their price target on Cadence Bank from $30.00 to $26.00 and set a “strong-buy” rating for the company in a report on Thursday, April 6th. DA Davidson reduced their target price on shares of Cadence Bank from $29.50 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, March 21st. Keefe, Bruyette & Woods lowered their price target on shares of Cadence Bank from $32.00 to $28.00 and set an “outperform” rating for the company in a report on Thursday, April 6th. Finally, Morgan Stanley cut their price objective on shares of Cadence Bank from $29.00 to $23.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $26.00.
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.
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