Brokerages expect that Cadence Bancorp (NYSE:CADE) will announce $118.70 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Cadence Bancorp’s earnings. The lowest sales estimate is $114.10 million and the highest is $122.20 million. Cadence Bancorp posted sales of $105.37 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.7%. The business is scheduled to report its next earnings results on Wednesday, July 25th.
On average, analysts expect that Cadence Bancorp will report full year sales of $498.38 million for the current fiscal year, with estimates ranging from $481.58 million to $523.40 million. For the next financial year, analysts forecast that the firm will report sales of $736.93 million per share, with estimates ranging from $522.47 million to $826.40 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Cadence Bancorp.
Cadence Bancorp (NYSE:CADE) last posted its quarterly earnings results on Wednesday, April 25th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. Cadence Bancorp had a net margin of 22.08% and a return on equity of 10.00%. The company had revenue of $116.09 million during the quarter, compared to the consensus estimate of $112.40 million.
CADE has been the subject of a number of research reports. Stephens reiterated a “buy” rating and set a $35.00 price target on shares of Cadence Bancorp in a research report on Thursday, May 24th. ValuEngine downgraded shares of Cadence Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 3rd. Zacks Investment Research upgraded shares of Cadence Bancorp from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Tuesday, May 1st. Finally, Piper Jaffray Companies initiated coverage on shares of Cadence Bancorp in a research report on Wednesday, March 28th. They set an “overweight” rating and a $32.00 price target for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Cadence Bancorp presently has an average rating of “Buy” and an average price target of $29.83.
Several institutional investors and hedge funds have recently modified their holdings of CADE. Maltese Capital Management LLC purchased a new position in shares of Cadence Bancorp during the 1st quarter worth approximately $103,000. Meadow Creek Investment Management LLC purchased a new position in shares of Cadence Bancorp during the 4th quarter worth approximately $157,000. Royal Bank of Canada increased its stake in shares of Cadence Bancorp by 609.9% during the 1st quarter. Royal Bank of Canada now owns 6,389 shares of the company’s stock worth $174,000 after purchasing an additional 5,489 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new position in shares of Cadence Bancorp during the 4th quarter worth approximately $177,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Cadence Bancorp during the 1st quarter worth approximately $229,000. 35.79% of the stock is owned by institutional investors and hedge funds.
Shares of CADE stock traded up $0.12 during midday trading on Friday, reaching $30.26. 16,341 shares of the company traded hands, compared to its average volume of 2,141,741. Cadence Bancorp has a 1-year low of $20.00 and a 1-year high of $31.44. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 20.36 and a beta of 0.67.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be paid a dividend of $0.125 per share. The ex-dividend date is Thursday, May 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.65%. Cadence Bancorp’s dividend payout ratio (DPR) is 33.78%.
About Cadence Bancorp
Cadence Bancorporation operates as the bank holding company for Cadence Bank, N.A. that provides commercial banking products and services to businesses, high net worth individuals, business owners, and retail customers in the United States. The company operates through Banking and Financial Services segments.
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