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

Cadence Bank (NYSE:CADE) announced its quarterly earnings results on Tuesday. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08, Briefing.com reports. The firm 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%. Cadence Bank’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share.

Cadence Bank Price Performance

NYSE CADE opened at $29.37 on Thursday. 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’s fifty day moving average price is $27.68 and its 200 day moving average price is $26.53. Cadence Bank has a 1 year low of $16.95 and a 1 year high of $31.45. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 9.38 and a beta of 1.02.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CADE. Morgan Stanley boosted their price target on Cadence Bank from $24.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Barclays boosted their price objective on shares of Cadence Bank from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday. DA Davidson reissued a “buy” rating on shares of Cadence Bank in a research note on Monday, January 15th. Stephens reissued an “overweight” rating and issued a $33.00 price objective on shares of Cadence Bank in a research note on Tuesday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Cadence Bank from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday. 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.09.

About Cadence Bank

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.