Equities research analysts expect Cadence Bancorporation (NYSE:CADE) to announce $183.61 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Cadence Bancorporation's earnings, with estimates ranging from $181.40 million to $186.93 million. Cadence Bancorporation reported sales of $186.63 million during the same quarter last year, which would suggest a negative year over year growth rate of 1.6%. The company is expected to issue its next earnings report on Wednesday, October 20th.
According to Zacks, analysts expect that Cadence Bancorporation will report full-year sales of $730.09 million for the current financial year, with estimates ranging from $710.25 million to $748.11 million. For the next year, analysts expect that the company will post sales of $708.13 million, with estimates ranging from $690.20 million to $726.22 million. Zacks Investment Research's sales calculations are a mean average based on a survey of analysts that that provide coverage for Cadence Bancorporation.
Cadence Bancorporation (NYSE:CADE) last released its quarterly earnings results on Wednesday, July 21st. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.35. The business had revenue of $185.02 million during the quarter, compared to analysts' expectations of $178.68 million. Cadence Bancorporation had a return on equity of 15.67% and a net margin of 46.87%. During the same quarter last year, the business posted ($0.45) EPS.
A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded Cadence Bancorporation from a "sell" rating to a "hold" rating in a report on Tuesday, July 27th. Raymond James upgraded Cadence Bancorporation from an "outperform" rating to a "strong-buy" rating and set a $26.00 price objective for the company in a report on Tuesday, August 31st. Six investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cadence Bancorporation presently has a consensus rating of "Hold" and an average price target of $22.17.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in Cadence Bancorporation during the 2nd quarter valued at about $25,000. Harvest Fund Management Co. Ltd acquired a new position in Cadence Bancorporation during the 1st quarter valued at about $29,000. Northwestern Mutual Wealth Management Co. acquired a new position in Cadence Bancorporation during the 2nd quarter valued at about $42,000. Acadian Asset Management LLC acquired a new position in Cadence Bancorporation during the 1st quarter valued at about $69,000. Finally, Meeder Asset Management Inc. increased its position in Cadence Bancorporation by 86.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 6,186 shares of the company's stock valued at $129,000 after buying an additional 2,868 shares in the last quarter. 92.00% of the stock is owned by hedge funds and other institutional investors.
Shares of Cadence Bancorporation stock opened at $20.86 on Wednesday. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 5.79 and a beta of 1.87. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a 50 day moving average price of $20.19 and a 200-day moving average price of $21.23. Cadence Bancorporation has a one year low of $7.73 and a one year high of $23.88.
The business also recently declared a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Friday, August 6th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.88%. The ex-dividend date was Thursday, August 5th. Cadence Bancorporation's payout ratio is 81.08%.
Cadence Bancorporation Company Profile
Cadence Bancorp. is a bank holding company, which engages in the provision of corporations, middle-market companies, small businesses, and consumers with banking and financial solutions through its subsidiary, Cadence Bank NA. It operates through the following segments: Banking, Financial Services, and Corporate.
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