Cadence Bank (NYSE:CADE) Announces Earnings Results, Beats Estimates By $0.02 EPS

Cadence Bank (NYSE:CADE) released its earnings results on Wednesday. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02, Zacks reports. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%.

Cadence Bank Trading Down 0.0 %

Shares of CADE stock traded down $0.00 during mid-day trading on Wednesday, reaching $35.93. The company’s stock had a trading volume of 1,431,156 shares, compared to its average volume of 1,247,942. The firm has a market capitalization of $6.55 billion, a PE ratio of 10.32 and a beta of 1.00. The company’s 50 day simple moving average is $36.16 and its 200-day simple moving average is $33.44. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. Cadence Bank has a 12-month low of $24.99 and a 12-month high of $40.20.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Truist Financial upped their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods increased their target price on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Morgan Stanley upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $36.00 to $39.00 in a research note on Monday, September 30th. DA Davidson raised their target price on Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $41.00 to $44.00 in a research note on Thursday, December 19th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.