Cadence Bank (CADE) Set to Announce Earnings on Monday

Cadence Bank (NYSE:CADE) will release its earnings data after the market closes on Monday, April 22nd. Analysts expect Cadence Bank to post earnings of $0.49 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Cadence Bank (NYSE:CADE) last released its quarterly earnings data on Monday, January 29th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.13). The firm had revenue of $23.15 million during the quarter, compared to the consensus estimate of $433.99 million. Cadence Bank had a net margin of 23.33% and a return on equity of 9.55%. On average, analysts expect Cadence Bank to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Cadence Bank Stock Performance

CADE stock opened at $27.17 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.86 and a quick ratio of 0.85. The business has a 50-day moving average price of $27.56 and a 200 day moving average price of $26.33. The company has a market capitalization of $4.96 billion, a P/E ratio of 9.34 and a beta of 1.02. Cadence Bank has a 1-year low of $16.95 and a 1-year high of $31.45.

Cadence Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.25 dividend. This is an increase from Cadence Bank’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Thursday, March 14th. Cadence Bank’s payout ratio is presently 34.36%.

Wall Street Analyst Weigh In

CADE has been the topic of several analyst reports. Barclays initiated coverage on Cadence Bank in a research note on Friday, March 8th. They issued an “equal weight” rating and a $28.00 target price on the stock. Stephens reiterated an “overweight” rating and issued a $32.00 target price on shares of Cadence Bank in a research note on Tuesday, January 30th. Truist Financial lifted their target price on Cadence Bank from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Hovde Group lowered Cadence Bank from an “outperform” rating to a “market perform” rating and set a $32.50 target price on the stock. in a research note on Tuesday, January 30th. Finally, TheStreet lowered Cadence Bank from a “b” rating to a “c” rating in a research note on Tuesday, January 30th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.65.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CADE. Bank of Montreal Can lifted its holdings in Cadence Bank by 4.4% in the first quarter. Bank of Montreal Can now owns 19,804 shares of the company’s stock valued at $603,000 after acquiring an additional 841 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Cadence Bank by 6.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 69,024 shares of the company’s stock valued at $2,020,000 after acquiring an additional 4,059 shares during the period. Cibc World Market Inc. acquired a new position in Cadence Bank in the first quarter valued at approximately $2,437,000. Sei Investments Co. raised its stake in shares of Cadence Bank by 1,892.1% during the 1st quarter. Sei Investments Co. now owns 251,737 shares of the company’s stock worth $7,370,000 after buying an additional 239,100 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Cadence Bank during the 1st quarter worth approximately $2,458,000. 84.61% of the stock is owned by institutional investors and hedge funds.

About Cadence Bank

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.