Brokerages expect Cadence Bancorp (NYSE:CADE) to announce $112.40 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Cadence Bancorp’s earnings. The lowest sales estimate is $108.70 million and the highest is $114.34 million. Cadence Bancorp reported sales of $98.86 million in the same quarter last year, which indicates a positive year-over-year growth rate of 13.7%. The business is expected to report its next earnings results after the market closes on Wednesday, April 25th.
On average, analysts expect that Cadence Bancorp will report full-year sales of $467.70 million for the current financial year, with estimates ranging from $454.30 million to $476.82 million. For the next year, analysts forecast that the company will post sales of $506.49 million per share, with estimates ranging from $493.00 million to $520.67 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Cadence Bancorp.
Cadence Bancorp (NYSE:CADE) last announced its earnings results on Wednesday, January 24th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The firm had revenue of $113.57 million during the quarter, compared to analysts’ expectations of $110.42 million. Cadence Bancorp had a return on equity of 9.50% and a net margin of 20.60%.
A number of research analysts have recently commented on the company. ValuEngine lowered Cadence Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Zacks Investment Research upgraded Cadence Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Monday, January 8th. Stephens reiterated a “buy” rating and set a $32.00 price target on shares of Cadence Bancorp in a report on Friday, January 26th. SunTrust Banks reiterated a “hold” rating and set a $28.00 price target on shares of Cadence Bancorp in a report on Tuesday, January 9th. Finally, Piper Jaffray assumed coverage on Cadence Bancorp in a report on Wednesday, March 28th. They set an “overweight” rating and a $32.00 price target for the company. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Cadence Bancorp has an average rating of “Buy” and a consensus price target of $27.89.
Shares of Cadence Bancorp stock opened at $27.38 on Thursday. The company has a market cap of $2,356.55 and a price-to-earnings ratio of 18.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 0.99. Cadence Bancorp has a 12-month low of $20.00 and a 12-month high of $29.30.
The company also recently announced a special dividend, which was paid on Tuesday, March 20th. Investors of record on Thursday, March 1st were paid a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. Cadence Bancorp’s payout ratio is 33.78%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Cadence Bancorp by 273.6% in the fourth quarter. BlackRock Inc. now owns 2,316,073 shares of the company’s stock valued at $62,812,000 after purchasing an additional 1,696,168 shares in the last quarter. Earnest Partners LLC acquired a new position in shares of Cadence Bancorp in the fourth quarter valued at $41,281,000. TimesSquare Capital Management LLC raised its stake in shares of Cadence Bancorp by 44.4% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,409,600 shares of the company’s stock valued at $38,228,000 after purchasing an additional 433,435 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Cadence Bancorp by 43.3% in the third quarter. Janus Henderson Group PLC now owns 1,379,526 shares of the company’s stock valued at $31,619,000 after purchasing an additional 416,751 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Cadence Bancorp by 7,721.1% in the fourth quarter. Millennium Management LLC now owns 982,804 shares of the company’s stock valued at $26,654,000 after purchasing an additional 970,238 shares in the last quarter. Institutional investors and hedge funds own 23.69% of the company’s stock.
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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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