Cadence Bancorp (NYSE:CADE) Announces Quarterly Earnings Results

Cadence Bancorp (NYSE:CADE) announced its quarterly earnings data on Monday. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.18), Morningstar.com reports. Cadence Bancorp had a net margin of 25.71% and a return on equity of 13.06%. The firm had revenue of $192.51 million for the quarter, compared to the consensus estimate of $197.27 million. During the same period last year, the company posted $0.57 earnings per share. Cadence Bancorp’s revenue for the quarter was up 60.3% on a year-over-year basis.

NYSE:CADE opened at $15.86 on Tuesday. The stock has a market capitalization of $2.53 billion, a P/E ratio of 7.66 and a beta of 1.79. The stock’s fifty day moving average is $19.90. Cadence Bancorp has a 1 year low of $15.55 and a 1 year high of $29.70. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.31.

In related news, Director J Thomas Wiley, Jr. sold 9,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $22.54, for a total value of $202,860.00. Following the sale, the director now owns 360,560 shares in the company, valued at $8,127,022.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David F. Black sold 22,500 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $21.30, for a total value of $479,250.00. Following the completion of the sale, the insider now owns 29,685 shares in the company, valued at approximately $632,290.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,224 shares of company stock worth $1,817,309. Company insiders own 3.34% of the company’s stock.



Several hedge funds have recently modified their holdings of CADE. Victory Capital Management Inc. purchased a new stake in shares of Cadence Bancorp in the first quarter worth $35,512,000. Dimensional Fund Advisors LP raised its position in shares of Cadence Bancorp by 256.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,053,294 shares of the company’s stock worth $34,455,000 after buying an additional 1,477,605 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Cadence Bancorp by 67.0% in the first quarter. Diamond Hill Capital Management Inc. now owns 3,230,782 shares of the company’s stock worth $59,931,000 after buying an additional 1,296,751 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Cadence Bancorp by 83.3% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,296,782 shares of the company’s stock worth $38,540,000 after buying an additional 1,043,884 shares in the last quarter. Finally, Davis Capital Partners LLC purchased a new stake in shares of Cadence Bancorp in the first quarter worth $18,550,000. Institutional investors own 91.99% of the company’s stock.

Several brokerages have weighed in on CADE. Goldman Sachs Group lowered Cadence Bancorp from a “buy” rating to a “neutral” rating in a report on Monday. Zacks Investment Research lowered First Merchants from a “hold” rating to a “sell” rating in a report on Monday, July 1st. Raymond James set a C$13.50 price objective on Secure Energy Services and gave the company a “strong-buy” rating in a report on Tuesday, April 30th. Keefe, Bruyette & Woods lowered Cadence Bancorp from an “outperform” rating to a “market perform” rating in a report on Tuesday. Finally, Stephens began coverage on LiqTech International in a report on Tuesday, July 9th. They set an “overweight” rating and a $13.00 price objective for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Cadence Bancorp has a consensus rating of “Hold” and an average price target of $25.11.

Cadence Bancorp Company Profile

Cadence Bancorporation, a financial holding company, through its subsidiary, Cadence Bank, National Association, provides commercial banking products and services to middle-market commercial businesses, high net worth individuals, business owners, and retail customers in the United States. The company operates through Banking and Financial Services segments.

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Earnings History for Cadence Bancorp (NYSE:CADE)

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