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. The company's products and services also comprise small business administration lending, foreign exchange, wealth management, investment and trust, financial planning, retirement plan management, and personal and business insurance services. As of March 3, 2022, it operated approximately 400 branch locations across the South, Midwest, and Texas. The company was incorporated in 1876 and is headquartered in Tupelo, Mississippi.
Cadence Bank Trading Up 1.0 %
NYSE:CADE traded up $0.28 on Tuesday, reaching $28.40. The stock had a trading volume of 809,144 shares, compared to its average volume of 1,247,171. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average price of $24.67 and a two-hundred day moving average price of $27.13. Cadence Bank has a 12-month low of $22.04 and a 12-month high of $34.24. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 16.44 and a beta of 1.07.
Cadence Bank (NYSE:CADE - Get Rating) last posted its quarterly earnings data on Monday, July 25th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.02. Cadence Bank had a return on equity of 11.01% and a net margin of 17.35%. During the same period in the prior year, the firm posted $0.86 EPS. As a group, sell-side analysts forecast that Cadence Bank will post 2.91 EPS for the current fiscal year.
Cadence Bank Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, September 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.10%. Cadence Bank's dividend payout ratio is presently 51.46%.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on CADE shares. Raymond James lowered their price target on shares of Cadence Bank from $35.00 to $32.00 and set a "strong-buy" rating on the stock in a research report on Thursday, July 7th. Piper Sandler reduced their price target on shares of Cadence Bank to $33.00 in a research report on Monday, July 4th. Truist Financial lowered their price objective on Cadence Bank from $32.00 to $30.00 in a research report on Wednesday, June 15th. Jefferies Financial Group reduced their target price on Cadence Bank from $28.00 to $26.00 in a research report on Monday, July 11th. Finally, Stephens upped their price target on Cadence Bank to $32.00 and gave the company an "outperform" rating in a research note on Wednesday, July 27th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $31.33.