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

Cadence Bank (NYSE:CADE) announced its quarterly earnings data on Tuesday. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.08, Briefing.com reports. The business had revenue of $437.69 million during the quarter, compared to analyst estimates of $427.18 million. Cadence Bank had a return on equity of 8.97% and a net margin of 23.83%. The company’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 earnings per share.

Cadence Bank Stock Performance

NYSE:CADE traded down $0.51 during mid-day trading on Thursday, hitting $28.86. 143,481 shares of the company’s stock traded hands, compared to its average volume of 1,373,559. The firm has a 50 day moving average of $27.68 and a two-hundred day moving average of $26.53. Cadence Bank has a 12 month low of $16.95 and a 12 month high of $31.45. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 9.38 and a beta of 1.02. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods upped their target price on Cadence Bank from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday. Barclays upped their target price on Cadence Bank from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday. Jefferies Financial Group reduced their target price on Cadence Bank from $30.00 to $29.00 and set a “hold” rating for the company in a report on Monday, April 8th. Hovde Group raised Cadence Bank from a “market perform” rating to an “outperform” rating and upped their price target for the company from $32.50 to $33.00 in a research report on Wednesday. Finally, TheStreet lowered Cadence Bank from a “b” rating to a “c” rating in a research report on Tuesday, January 30th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cadence Bank currently has a consensus rating of “Moderate Buy” and an average price target of $31.09.

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.