Cadence Bank (CADE) to Issue Quarterly Dividend of $0.28 on February 20th

Cadence Bank (NYSE:CADE) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Shareholders of record on Wednesday, February 5th will be given a dividend of 0.275 per share on Thursday, February 20th. This represents a $1.10 dividend on an annualized basis and a yield of 3.22%. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25.

Cadence Bank has raised its dividend by an average of 8.6% annually over the last three years and has increased its dividend every year for the last 13 years. Cadence Bank has a payout ratio of 32.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cadence Bank to earn $2.87 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 34.8%.

Cadence Bank Trading Down 4.8 %

Shares of Cadence Bank stock opened at $34.19 on Friday. The stock has a market cap of $6.23 billion, a PE ratio of 9.82 and a beta of 1.00. The firm has a fifty day moving average price of $36.03 and a 200 day moving average price of $33.47. Cadence Bank has a 1 year low of $24.99 and a 1 year high of $40.20. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87.

Cadence Bank (NYSE:CADE) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. During the same quarter last year, the company posted $0.40 earnings per share. Equities research analysts predict that Cadence Bank will post 2.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CADE shares. Morgan Stanley upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $36.00 to $39.00 in a research report on Monday, September 30th. Truist Financial raised their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada lifted their price objective on shares of Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $41.00 to $44.00 in a research note on Thursday, December 19th. Finally, Keefe, Bruyette & Woods upped their price target on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.95.

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.