Wall Street brokerages forecast that Cadence Bancorp (NYSE:CADE) will announce $112.27 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Cadence Bancorp’s earnings. The highest sales estimate is $113.68 million and the lowest is $108.70 million. Cadence Bancorp reported sales of $98.86 million in the same quarter last year, which would suggest a positive year over year growth rate of 13.6%. The firm is scheduled to report its next earnings report after the market closes on Wednesday, April 25th.
On average, analysts expect that Cadence Bancorp will report full year sales of $112.27 million for the current financial year, with estimates ranging from $454.30 million to $473.40 million. For the next fiscal year, analysts anticipate that the business will report sales of $504.67 million per share, with estimates ranging from $493.00 million to $520.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Cadence Bancorp.
Cadence Bancorp (NYSE:CADE) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. Cadence Bancorp had a return on equity of 9.50% and a net margin of 20.60%. The company had revenue of $113.57 million for the quarter, compared to the consensus estimate of $110.42 million.
CADE has been the topic of a number of research analyst reports. ValuEngine downgraded Cadence Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Zacks Investment Research downgraded Cadence Bancorp from a “buy” rating to a “hold” rating in a report on Friday, January 5th. SunTrust Banks reiterated a “hold” rating and set a $28.00 target price on shares of Cadence Bancorp in a report on Tuesday, January 9th. Stephens reiterated a “buy” rating and set a $32.00 target price on shares of Cadence Bancorp in a report on Friday, January 26th. Finally, Piper Jaffray started coverage on Cadence Bancorp in a report on Wednesday, March 28th. They set an “overweight” rating and a $32.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Cadence Bancorp presently has a consensus rating of “Buy” and an average price target of $27.89.
Several hedge funds have recently bought and sold shares of the business. Northern Trust Corp bought a new stake in shares of Cadence Bancorp in the 2nd quarter worth approximately $1,632,000. Vanguard Group Inc. bought a new stake in shares of Cadence Bancorp in the 2nd quarter worth approximately $383,000. State Street Corp bought a new stake in shares of Cadence Bancorp in the 2nd quarter worth approximately $1,781,000. California State Teachers Retirement System bought a new stake in shares of Cadence Bancorp in the 2nd quarter worth approximately $337,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Cadence Bancorp by 14.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 27,767 shares of the company’s stock worth $637,000 after purchasing an additional 3,476 shares in the last quarter. Hedge funds and other institutional investors own 23.69% of the company’s stock.
NYSE:CADE traded down $0.50 during mid-day trading on Monday, reaching $26.73. 354,864 shares of the company’s stock traded hands, compared to its average volume of 425,000. Cadence Bancorp has a 12-month low of $20.00 and a 12-month high of $29.30. The company has a market cap of $2,277.11 and a PE ratio of 18.06. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 0.99.
The company also recently announced a special dividend, which was paid on Tuesday, March 20th. Shareholders of record on Thursday, March 1st were issued a dividend of $0.125 per share. The ex-dividend date was Wednesday, February 28th. Cadence Bancorp’s dividend payout ratio (DPR) is 33.78%.
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Cadence Bancorp Company Profile
Cadence Bancorp is a bank holding company. The company is focused on providing range of banking and wealth management services to businesses, individuals, business owners and retail customers. It operates through three segments: Banking, Financial Services and Corporate. The Banking segment offers a range of deposit products and lending services through its commercial banking, retail banking and private banking business lines.
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