Wall Street analysts expect Cadence Bank (NYSE:CADE – Get Rating) to report sales of $438.40 million for the current fiscal quarter, reports Zacks Investment Research. Five analysts provided earnings estimates for Cadence Bank. The lowest sales estimate is $434.50 million and the highest is $443.80 million. Cadence Bank recorded sales of $282.13 million in the same quarter last year, suggesting a positive year-over-year growth rate of 55.4%. The company is due to release its next earnings report on Monday, January 1.
According to Zacks, analysts expect Cadence Bank to report annual revenue of $1.79 billion for the current fiscal year, with estimates ranging from $1.77 billion to $1.81 billion. of dollars. For the next fiscal year, analysts expect the company to report sales of $1.91 billion, with estimates ranging from $1.83 billion to $1.97 billion. Zacks Investment Research’s sell averages are an average average based on a survey of sell-side analysts who cover Cadence Bank.
Cadence Bank (NYSE:CADE – Get Rating) last released its results on Monday, April 25. The company reported earnings per share of $0.60 for the quarter, hitting the consensus estimate of $0.60. The company posted revenue of $440.26 million in the quarter, versus a consensus estimate of $427.57 million. Cadence Bank posted a net margin of 15.87% and a return on equity of 10.63%. In the same quarter a year earlier, the company posted EPS of $0.73.
A number of equity analysts have commented on CADE shares. TheStreet upgraded Cadence Bank shares from a ‘c+’ rating to a ‘b-‘ rating in a Friday May 27 research note. Zacks Investment Research upgraded Cadence Bank shares from a “buy” rating to a “hold” rating in a Thursday, April 28 report. One analyst rated the stock with a hold rating, three gave the stock a buy rating and one gave the stock a strong buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $36.40.
NYSE CADE shares opened at $26.83 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt ratio of 0.10. Cadence Bank has a 12-month low of $24.39 and a 12-month high of $34.24. The stock has a market capitalization of $2.91 billion, a price-earnings ratio of 15.60 and a beta of 1.04. The company’s 50-day moving average price is $26.60 and its 200-day moving average price is $29.35.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 1. Shareholders of record on Wednesday, June 15 will receive a dividend of $0.22. The ex-dividend date is Tuesday, June 14. This represents an annualized dividend of $0.88 and a dividend yield of 3.28%. Cadence Bank’s dividend payout ratio (DPR) is 51.16%.
A number of institutional investors and hedge funds have recently bought and sold shares of CADE. Silvercrest Asset Management Group LLC acquired a new position in Cadence Bank during the fourth quarter worth approximately $173,967,000. State Street Corp increased its position in Cadence Bank by 49.7% during the fourth quarter. State Street Corp now owns 9,966,096 shares of the company worth $298,602,000 after acquiring 3,310,115 additional shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Cadence Bank during the fourth quarter worth approximately $57,578,000. Northern Trust Corp increased its position in Cadence Bank by 112.3% during the fourth quarter. Northern Trust Corp now owns 3,482,824 shares of the company worth $103,752,000 after acquiring 1,842,517 additional shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Cadence Bank by 34.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,091,420 shares of the company worth $211,256,000 after acquiring an additional 1,810,881 shares in the last quarter. Hedge funds and other institutional investors hold 71.03% of the company’s shares.
About Cadence Bank (Get a 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, corporate and business banking, cash management, specialty and asset-based lending, commercial real estate, equipment finance and correspondent banking.
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