Cadence Bank (NYSE:CADE) Declares Quarterly Dividend of $0.28

Cadence Bank (NYSE:CADE) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders of record on Wednesday, February 5th will be given a dividend of 0.275 per share on Thursday, February 20th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.06%. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25.

Cadence Bank has raised its dividend payment by an average of 8.6% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Cadence Bank has a dividend payout ratio of 32.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cadence Bank to earn $2.87 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 34.8%.

Cadence Bank Trading Down 0.0 %

Shares of NYSE CADE traded down $0.00 during midday trading on Wednesday, reaching $35.93. The company had a trading volume of 1,577,192 shares, compared to its average volume of 1,249,599. Cadence Bank has a one year low of $24.99 and a one year high of $40.20. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average price is $36.16 and its 200-day moving average price is $33.44. The stock has a market cap of $6.55 billion, a PE ratio of 10.32 and a beta of 1.00.

Cadence Bank (NYSE:CADE) last released its earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. During the same period last year, the firm posted $0.40 earnings per share. On average, equities research analysts anticipate that Cadence Bank will post 2.71 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on CADE shares. DA Davidson upped their price target on Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. 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, October 23rd. Royal Bank of Canada upped their price target on Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods upped their target price on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cadence Bank presently has an average rating of “Moderate Buy” and an average target price of $37.32.

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.