Cadence Bancorporation (NYSE:CADE) is expected to release quarterly results after market close on Tuesday, January 25. Analysts expect Cadence Bancorporation to post earnings of $0.49 per share for the quarter. Individuals wishing to listen to the company’s earnings conference call can do so using this link.
Cadence Bancorporation (NYSE:CADE) last released its quarterly results on Sunday, October 24. The company reported EPS of $0.67 for the quarter, beating the Zacks consensus estimate of $0.50 by $0.17. The company posted revenue of $182.48 million for the quarter, compared to $180.26 million expected by analysts. Cadence Bancorporation achieved a return on equity of 11.45% and a net margin of 26.11%. The company’s quarterly revenue was down 2.5% year over year. During the same period last year, the company made earnings per share of $0.40. On average, analysts expect Cadence Bancorporation to post EPS of $3 for the current fiscal year and EPS of $3 for the next fiscal year.
NYSE:CADE opened at $34.14 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt ratio of 0.11. The company’s 50-day simple moving average is $30.75 and its two-hundred-day simple moving average is $24.78. The stock has a market capitalization of $3.71 billion, a PE ratio of 12.37 and a beta of 1.12. Cadence Bancorporation has a 52-week minimum of $27.25 and a 52-week maximum of $34.24.
The company also recently declared a quarterly dividend, which was paid on Monday, January 3. Shareholders of record on Wednesday, December 15 received a dividend of $0.20 per share. The ex-dividend date was Tuesday, December 14. This is a boost from Cadence Bancorporation’s previous quarterly dividend of $0.16. This represents a dividend of $0.80 on an annualized basis and a yield of 2.34%. Cadence Bancorporation’s dividend payout ratio (DPR) is currently 28.99%.
Several institutional investors have recently bought and sold shares of CADE. Morgan Stanley increased its stake in shares of Cadence Bancorporation by 82.0% during the second quarter. Morgan Stanley now owns 814,180 shares of the company valued at $17,001,000 after acquiring 366,767 additional shares last quarter. Janus Henderson Group PLC purchased a new equity stake in Cadence Bancorporation during the third quarter valued at approximately $279,000. Finally, Citadel Advisors LLC increased its stake in shares of Cadence Bancorporation by 3.3% during the third quarter. Citadel Advisors LLC now owns 25,206 shares of the company valued at $554,000 after acquiring 806 additional shares in the last quarter. 68.67% of the shares are held by hedge funds and other institutional investors.
A number of equity research analysts have commented on the company. Janney Montgomery Scott upgraded Cadence Bancorporation from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a Thursday, Dec. 9 report. Truist launched coverage on Cadence Bancorporation in a research report on Monday, November 1. They set a “buy” rating and a price target of $35.00 for the company. Zacks Investment Research upgraded Cadence Bancorporation from a “hold” rating to a “buy” rating and set a price target of $37.00 for the company in a research report on Friday, January 7. Finally, Piper Sandler upgraded Cadence Bancorporation from a “neutral” rating to an “overweight” rating and raised its price target for the company from $34.00 to $40.00 in a Thursday, November 4 research report. . Four analysts gave the stock a hold rating, four gave the company a buy rating and one gave the company a strong buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $30.75.
About Cadence Bancorporation
Cadence Bank provides banking and financial solutions to consumers, businesses and corporations. Its services and products include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, cash, lending, asset-based lending, commercial real estate, equipment financing, correspondent banking, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning, pension plan management pension and personal and business insurance.
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