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

Cadence Bank (NYSE:CADE) issued its quarterly earnings results on Monday. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.61 by $0.08, Yahoo Finance reports. The company had revenue of $742.87 million for the quarter, compared to the consensus estimate of $439.63 million. Cadence Bank had a net margin of 24.42% and a return on equity of 9.00%. During the same period in the prior year, the firm posted $0.64 EPS.

Cadence Bank Stock Down 1.4 %

Shares of CADE traded down $0.46 during mid-day trading on Wednesday, hitting $33.12. The company’s stock had a trading volume of 1,785,168 shares, compared to its average volume of 1,351,685. The company’s 50-day moving average is $28.74 and its 200-day moving average is $28.19. Cadence Bank has a 52-week low of $19.67 and a 52-week high of $34.13. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 10.81 and a beta of 0.98. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CADE shares. Barclays upped their price target on shares of Cadence Bank from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Wednesday. Keefe, Bruyette & Woods upped their price target on shares of Cadence Bank from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Stephens restated an “overweight” rating and issued a $35.00 target price on shares of Cadence Bank in a research note on Tuesday. Royal Bank of Canada upped their target price on shares of Cadence Bank from $31.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Finally, DA Davidson upped their target price on shares of Cadence Bank from $34.50 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.79.

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.