Equities analysts predict that Cadence Bank (NYSE:CADE - Get Rating) will report sales of $438.40 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Cadence Bank's earnings, with the lowest sales estimate coming in at $434.50 million and the highest estimate coming in at $443.80 million. Cadence Bank reported sales of $282.13 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 55.4%. The firm is expected to announce its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Cadence Bank will report full year sales of $1.79 billion for the current fiscal year, with estimates ranging from $1.77 billion to $1.81 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.91 billion, with estimates ranging from $1.83 billion to $1.97 billion. Zacks' sales calculations are an average based on a survey of sell-side research analysts that follow Cadence Bank.
Cadence Bank (NYSE:CADE - Get Rating) last released its earnings results on Monday, April 25th. The company reported $0.60 EPS for the quarter, meeting the consensus estimate of $0.60. Cadence Bank had a net margin of 15.87% and a return on equity of 10.63%. The business had revenue of $440.26 million during the quarter, compared to analyst estimates of $427.57 million. During the same period in the prior year, the business earned $0.73 earnings per share.
A number of research firms have recently issued reports on CADE. TheStreet lowered shares of Cadence Bank from a "b" rating to a "c+" rating in a report on Wednesday, April 13th. Raymond James boosted their price target on shares of Cadence Bank from $36.00 to $40.00 and gave the company a "strong-buy" rating in a report on Thursday, January 27th. Finally, Zacks Investment Research lowered shares of Cadence Bank from a "buy" rating to a "hold" rating in a report on Thursday, April 28th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $36.40.
Several institutional investors and hedge funds have recently made changes to their positions in CADE. FMR LLC increased its stake in shares of Cadence Bank by 5.1% during the 1st quarter. FMR LLC now owns 2,703,959 shares of the company's stock worth $50,158,000 after purchasing an additional 131,997 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Cadence Bank during the 1st quarter worth $3,290,000. Morgan Stanley increased its stake in shares of Cadence Bank by 82.0% during the 2nd quarter. Morgan Stanley now owns 814,180 shares of the company's stock worth $17,001,000 after purchasing an additional 366,767 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Cadence Bank by 3.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 451,496 shares of the company's stock worth $9,913,000 after purchasing an additional 14,118 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Cadence Bank by 0.8% during the 3rd quarter. BlackRock Inc. now owns 18,337,155 shares of the company's stock worth $402,684,000 after purchasing an additional 153,346 shares during the last quarter. Institutional investors own 71.03% of the company's stock.
CADE stock opened at $25.08 on Friday. Cadence Bank has a 12 month low of $24.39 and a 12 month high of $34.24. The firm has a market cap of $2.72 billion, a PE ratio of 14.58 and a beta of 1.05. The firm has a 50 day simple moving average of $27.78 and a 200 day simple moving average of $29.70. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.69 and a quick ratio of 0.69.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 15th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $0.88 annualized dividend and a yield of 3.51%. Cadence Bank's dividend payout ratio is presently 51.16%.
Cadence Bank Company Profile (Get Rating)
Cadence Bank provides commercial banking and financial services in the United States. 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.
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