Cadence Bank (NYSE:CADE) Issues Earnings Results, Beats Estimates By $0.08 EPS

Cadence Bank (NYSE:CADE) posted its earnings results on Tuesday. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08, Briefing.com reports. The business had revenue of $437.69 million during the quarter, compared to analyst estimates of $427.18 million. Cadence Bank had a return on equity of 9.22% and a net margin of 23.83%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 EPS.

Cadence Bank Trading Up 1.7 %

NYSE CADE traded up $0.48 during trading hours on Wednesday, hitting $29.37. 2,010,119 shares of the company were exchanged, compared to its average volume of 1,381,632. The stock has a 50-day moving average price of $27.62 and a 200 day moving average price of $26.51. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.09. Cadence Bank has a 52 week low of $16.95 and a 52 week high of $31.45. The stock has a market cap of $5.36 billion, a PE ratio of 9.35 and a beta of 1.02.

Analyst Ratings Changes

CADE has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their target price on Cadence Bank from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday. Stephens restated an “overweight” rating and issued a $33.00 price objective on shares of Cadence Bank in a research report on Tuesday. Raymond James lowered their price objective on Cadence Bank from $35.00 to $34.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 31st. Morgan Stanley boosted their price objective on Cadence Bank from $24.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Finally, Jefferies Financial Group lowered their price objective on Cadence Bank from $30.00 to $29.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.09.

Cadence Bank Company Profile

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.