Cadence Bank (NYSE:CADE) Posts Earnings Results, Beats Expectations By $0.02 EPS

Cadence Bank (NYSE:CADEGet Free Report) released its quarterly earnings data on Wednesday. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 Price Performance

NYSE:CADE traded down $0.00 during mid-day trading on Wednesday, reaching $35.93. 1,431,156 shares of the stock were exchanged, compared to its average volume of 1,247,942. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average price of $36.16 and a 200 day moving average price of $33.44. Cadence Bank has a 1-year low of $24.99 and a 1-year high of $40.20. The firm has a market capitalization of $6.55 billion, a PE ratio of 10.32 and a beta of 1.00.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CADE shares. Morgan Stanley upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $36.00 to $39.00 in a research report on Monday, September 30th. Truist Financial raised their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. DA Davidson lifted their price target on Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Barclays raised Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Finally, Royal Bank of Canada boosted their price target on Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cadence Bank currently has an average rating of “Moderate Buy” and an average target price of $37.32.

Read Our Latest Stock Report on CADE

Cadence Bank Company Profile

(Get Free Report)

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.

See Also

Earnings History for Cadence Bank (NYSE:CADE)

Receive News & Ratings for Cadence Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Bank and related companies with MarketBeat.com's FREE daily email newsletter.