Cadence Bancorp (NYSE:CADE) Releases Earnings Results, Misses Expectations By $0.15 EPS

Cadence Bancorp (NYSE:CADE) announced its quarterly earnings data on Wednesday. The company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.15), Briefing.com reports. Cadence Bancorp had a net margin of 20.00% and a return on equity of 9.81%. The firm had revenue of $194.83 million during the quarter, compared to analyst estimates of $191.73 million. During the same quarter in the previous year, the business posted $0.56 earnings per share.

Shares of Cadence Bancorp stock opened at $15.32 on Friday. Cadence Bancorp has a 1 year low of $14.66 and a 1 year high of $23.22. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $2.03 billion, a P/E ratio of 7.40 and a beta of 1.83. The company’s fifty day moving average is $17.14 and its two-hundred day moving average is $18.60.

In other news, insider Rudolph H. Holmes bought 10,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $15.74 per share, with a total value of $157,400.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William B. Harrison, Jr. bought 64,168 shares of the stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $15.53 per share, for a total transaction of $996,529.04. Following the acquisition, the director now owns 95,899 shares of the company’s stock, valued at $1,489,311.47. The disclosure for this purchase can be found here. Insiders have acquired a total of 80,677 shares of company stock worth $1,256,698 over the last three months. 3.34% of the stock is currently owned by insiders.

Several brokerages recently commented on CADE. Raymond James lowered shares of Cadence Bancorp from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lowered shares of Cadence Bancorp from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $20.00 to $16.50 in a research note on Thursday. Zacks Investment Research upgraded shares of Cadence Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, September 23rd. Goldman Sachs Group lowered shares of Cadence Bancorp from a “buy” rating to a “neutral” rating and set a $18.00 price target on the stock. in a research note on Monday, July 22nd. Finally, Keefe, Bruyette & Woods lowered shares of Cadence Bancorp from an “outperform” rating to a “market perform” rating and set a $18.00 price target on the stock. in a research note on Tuesday, July 23rd. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $19.80.

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.

Featured Story: How to trade on quiet period expirations

Earnings History for Cadence Bancorp (NYSE:CADE)

Receive News & Ratings for Cadence Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.