Cadence Bank (NYSE:CADE) Announces Earnings Results

Cadence Bank (NYSE:CADE) released its earnings results on Monday. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.09, Yahoo Finance reports. The company had revenue of $447.36 million for the quarter, compared to analysts’ expectations of $450.97 million. Cadence Bank had a return on equity of 8.82% and a net margin of 24.42%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 EPS.

Cadence Bank Price Performance

NYSE CADE traded down $0.18 during trading hours on Wednesday, hitting $33.82. The company had a trading volume of 1,265,297 shares, compared to its average volume of 1,328,843. Cadence Bank has a 52 week low of $19.94 and a 52 week high of $34.25. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 10.71 and a beta of 0.96. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a 50 day simple moving average of $31.62 and a 200 day simple moving average of $29.88.

Analyst Ratings Changes

A number of analysts recently issued reports on CADE shares. Hovde Group raised their price objective on shares of Cadence Bank from $33.00 to $36.50 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. DA Davidson raised their price target on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday. Stephens reiterated an “overweight” rating and issued a $35.00 price objective on shares of Cadence Bank in a research note on Tuesday, July 23rd. Jefferies Financial Group lowered their target price on Cadence Bank from $31.00 to $29.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Finally, Truist Financial upped their price target on Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cadence Bank presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.29.

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.