Cadence Bank (CADE) to Issue Quarterly Dividend of $0.25 on October 1st

Cadence Bank (NYSE:CADEGet Free Report) announced a quarterly dividend on Wednesday, July 24th, Wall Street Journal reports. Investors of record on Friday, September 13th will be paid a dividend of 0.25 per share on Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 3.00%. The ex-dividend date is Friday, September 13th.

Cadence Bank has raised its dividend by an average of 8.1% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Cadence Bank has a dividend payout ratio of 36.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cadence Bank to earn $2.76 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 36.2%.

Cadence Bank Price Performance

Shares of CADE opened at $33.37 on Friday. The business’s 50-day moving average is $28.88 and its 200-day moving average is $28.26. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of 10.66 and a beta of 0.98. Cadence Bank has a fifty-two week low of $19.67 and a fifty-two week high of $34.13.

Cadence Bank (NYSE:CADEGet Free Report) last announced its quarterly earnings data on Monday, July 22nd. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.08. Cadence Bank had a net margin of 24.42% and a return on equity of 8.82%. The firm had revenue of $742.87 million for the quarter, compared to the consensus estimate of $439.63 million. During the same period in the previous year, the firm posted $0.64 earnings per share. Equities research analysts expect that Cadence Bank will post 2.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CADE shares. Piper Sandler lowered Cadence Bank from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $33.00 to $34.00 in a report on Wednesday. Barclays raised their price target on Cadence Bank from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Royal Bank of Canada boosted their price target on Cadence Bank from $31.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday. DA Davidson raised their price objective on shares of Cadence Bank from $34.50 to $39.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Jefferies Financial Group decreased their target price on shares of Cadence Bank from $31.00 to $29.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.79.

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Cadence Bank Company Profile

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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.

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Dividend History for Cadence Bank (NYSE:CADE)

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