Cadence Bank (NYSE:CADE) Releases Earnings Results, Beats Estimates By $0.08 EPS

Cadence Bank (NYSE:CADE) issued its quarterly earnings results on Monday. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08, Yahoo Finance reports. The company had revenue of $742.87 million for the quarter, compared to analyst estimates of $439.63 million. Cadence Bank had a net margin of 24.42% and a return on equity of 9.00%. During the same quarter in the previous year, the business earned $0.64 earnings per share.

Cadence Bank Stock Down 1.4 %

Shares of NYSE:CADE traded down $0.46 during midday trading on Wednesday, hitting $33.12. 1,785,168 shares of the company’s stock were exchanged, compared to its average volume of 1,348,013. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a 50 day moving average price of $28.74 and a 200-day moving average price of $28.19. The company has a market cap of $6.04 billion, a PE ratio of 10.81 and a beta of 0.98. Cadence Bank has a 12 month low of $19.67 and a 12 month high of $34.13.

Analysts Set New Price Targets

Several research firms recently issued reports on CADE. Keefe, Bruyette & Woods boosted their target price on shares of Cadence Bank from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Truist Financial boosted their target price on shares of Cadence Bank from $31.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday. DA Davidson boosted their target price on shares of Cadence Bank from $34.50 to $39.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada lifted their price target on shares of Cadence Bank from $31.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday. Finally, Jefferies Financial Group decreased their price target on shares of Cadence Bank from $31.00 to $29.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.79.

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.