Cadence Bank (NYSE:CADE) Announces Earnings Results

Cadence Bank (NYSE:CADE) announced its quarterly earnings data on Monday. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.09, Yahoo Finance reports. Cadence Bank had a return on equity of 8.82% and a net margin of 24.42%. The business had revenue of $447.36 million during the quarter, compared to analysts’ expectations of $450.97 million. During the same quarter last year, the business posted $0.56 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year.

Cadence Bank Price Performance

Shares of CADE opened at $33.82 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.86 and a current ratio of 0.86. Cadence Bank has a fifty-two week low of $19.94 and a fifty-two week high of $34.25. The firm has a 50-day simple moving average of $31.71 and a 200-day simple moving average of $29.91. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 10.81 and a beta of 0.96.

Analysts Set New Price Targets

CADE has been the subject of a number of recent research reports. Truist Financial lifted their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada boosted their target price on shares of Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Stephens restated an “overweight” rating and issued a $35.00 price target on shares of Cadence Bank in a research note on Tuesday, July 23rd. DA Davidson increased their price objective on Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Piper Sandler cut Cadence Bank from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $33.00 to $34.00 in a research note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.29.

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.