Cadence Bank (NYSE:CADE) Plans Quarterly Dividend of $0.25

Cadence Bank (NYSE:CADE - Get Free Report) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors of record on Friday, June 14th will be paid a dividend of 0.25 per share on Monday, July 1st. This represents a $1.00 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Friday, June 14th.

Cadence Bank has decreased its dividend payment by an average of 5.0% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Cadence Bank has a dividend payout ratio of 36.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cadence Bank to earn $2.75 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 36.4%.

Cadence Bank Price Performance

Shares of Cadence Bank stock traded down $0.05 during midday trading on Friday, hitting $29.01. 1,038,673 shares of the company traded hands, compared to its average volume of 1,382,613. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 9.27 and a beta of 1.02. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The firm's fifty day moving average price is $27.74 and its 200-day moving average price is $26.60. Cadence Bank has a 12 month low of $16.95 and a 12 month high of $31.45.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. The company had revenue of $437.69 million for the quarter, compared to analyst estimates of $427.18 million. Cadence Bank had a net margin of 23.83% and a return on equity of 8.97%. The firm's revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 EPS. As a group, sell-side analysts forecast that Cadence Bank will post 2.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on CADE. Stephens reiterated an "overweight" rating and set a $33.00 target price on shares of Cadence Bank in a research report on Tuesday. DA Davidson restated a "buy" rating on shares of Cadence Bank in a research report on Monday, January 15th. Hovde Group upgraded shares of Cadence Bank from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $32.50 to $33.00 in a research report on Wednesday. Barclays boosted their price target on shares of Cadence Bank from $28.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Finally, Morgan Stanley boosted their price target on shares of Cadence Bank from $24.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 7th. 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. Based on data from MarketBeat, Cadence Bank has a consensus rating of "Moderate Buy" and an average target price of $31.09.

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.