Equities analysts predict that Cadence Bancorp (NYSE:CADE) will post $0.54 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Cadence Bancorp’s earnings. The lowest EPS estimate is $0.51 and the highest is $0.55. Cadence Bancorp posted earnings per share of $0.39 in the same quarter last year, which would suggest a positive year over year growth rate of 38.5%. The firm is expected to issue its next quarterly earnings results on Wednesday, January 23rd.
On average, analysts expect that Cadence Bancorp will report full-year earnings of $2.10 per share for the current year, with EPS estimates ranging from $2.07 to $2.14. For the next year, analysts forecast that the business will report earnings of $2.29 per share, with EPS estimates ranging from $2.20 to $2.43. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Cadence Bancorp.
Cadence Bancorp (NYSE:CADE) last released its quarterly earnings results on Monday, October 22nd. The company reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.05. Cadence Bancorp had a return on equity of 12.41% and a net margin of 25.78%. The business had revenue of $122.08 million for the quarter, compared to the consensus estimate of $120.97 million.
A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Cadence Bancorp from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Thursday, July 12th. Raymond James decreased their price objective on Cadence Bancorp from $36.00 to $35.00 and set a “strong-buy” rating on the stock in a report on Tuesday, July 24th. ValuEngine downgraded Cadence Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Morgan Stanley started coverage on Cadence Bancorp in a report on Tuesday, September 25th. They issued an “equal weight” rating and a $30.00 price objective on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $28.00 price objective on shares of Cadence Bancorp in a report on Tuesday, October 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $30.14.
NYSE CADE traded down $0.41 during trading hours on Wednesday, reaching $21.69. 1,253,500 shares of the stock traded hands, compared to its average volume of 1,023,055. Cadence Bancorp has a 1 year low of $20.34 and a 1 year high of $31.44. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 14.66 and a beta of 1.20.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be issued a $0.15 dividend. The ex-dividend date is Friday, November 30th. This represents a $0.60 annualized dividend and a dividend yield of 2.77%. Cadence Bancorp’s dividend payout ratio is currently 40.54%.
In related news, insider Valerie Toalson sold 25,160 shares of the firm’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $27.41, for a total value of $689,635.60. Following the sale, the insider now directly owns 11,608 shares of the company’s stock, valued at $318,175.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Samuel M. Tortorici sold 100,943 shares of the firm’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $27.41, for a total value of $2,766,847.63. Following the completion of the sale, the president now directly owns 18,659 shares in the company, valued at $511,443.19. The disclosure for this sale can be found here. In the last quarter, insiders sold 401,103 shares of company stock worth $10,994,233. Company insiders own 0.09% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in shares of Cadence Bancorp by 609.9% in the first 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 during the last quarter. Laurion Capital Management LP bought a new stake in shares of Cadence Bancorp in the second quarter worth about $916,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Cadence Bancorp in the second quarter worth about $1,236,000. FMR LLC grew its stake in shares of Cadence Bancorp by 1,022.2% in the second quarter. FMR LLC now owns 2,392,476 shares of the company’s stock worth $69,071,000 after purchasing an additional 2,179,276 shares during the last quarter. Finally, MetLife Investment Advisors LLC grew its stake in shares of Cadence Bancorp by 59.9% in the second quarter. MetLife Investment Advisors LLC now owns 21,527 shares of the company’s stock worth $621,000 after purchasing an additional 8,066 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors.
Cadence Bancorp Company Profile
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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