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PFE   43.94 (-0.57%)
BA   221.39 (+0.13%)
BAC   42.14 (+1.08%)

Cadence Bancorporation (NYSE:CADE) Expected to Announce Quarterly Sales of $183.61 Million

Last updated on Wednesday, September 15, 2021 | 2021 MarketBeat

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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Earnings History and Estimates for Cadence Bancorporation (NYSE:CADE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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