Equities Analysts Set Expectations for Cadence Bank’s Q2 2022 Earnings (NYSE:CADE)

Cadence Bank (NYSE:CADE – Get Rating) – Stock analysts at Jefferies Financial Group reduced their Q2 2022 earnings estimates for shares of Cadence Bank in a research note issued on Wednesday, April 27th. Jefferies Financial Group analyst C. Haire now expects that the company will earn $0.65 per share for the quarter, down from their prior estimate of $0.69.

Cadence Bank (NYSE:CADE – Get Rating) last released its earnings results on Monday, April 25th. The company reported $0.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.60. The company had revenue of $440.26 million for the quarter, compared to the consensus estimate of $427.57 million. Cadence Bank had a net margin of 15.49% and a return on equity of 11.01%. During the same period in the prior year, the company posted $0.73 EPS.

Other equities research analysts also recently issued research reports about the company. Raymond James raised their price target on Cadence Bank from $36.00 to $40.00 and gave the company a “strong-buy” rating in a report on Thursday, January 27th. TheStreet cut Cadence Bank from a “b” rating to a “c+” rating in a research report on Wednesday, April 13th. Finally, Zacks Investment Research cut Cadence Bank from a “buy” rating to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Cadence Bank currently has an average rating of “Buy” and an average price target of $36.40.

Shares of CADE opened at $26.11 on Friday. The stock has a market capitalization of $2.84 billion, a P/E ratio of 13.81 and a beta of 1.01. Cadence Bank has a twelve month low of $25.39 and a twelve month high of $34.24. The company has a 50 day moving average of $28.89 and a 200-day moving average of $29.42. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 0.09.

A number of institutional investors and hedge funds have recently modified their holdings of CADE. Covestor Ltd acquired a new position in Cadence Bank in the fourth quarter valued at approximately $25,000. Founders Capital Management acquired a new position in Cadence Bank in the fourth quarter valued at approximately $30,000. Quadrant Capital Group LLC acquired a new position in Cadence Bank in the fourth quarter valued at approximately $30,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Cadence Bank during the fourth quarter valued at approximately $34,000. Finally, Signaturefd LLC increased its holdings in shares of Cadence Bank by 1,920.4% during the fourth quarter. Signaturefd LLC now owns 1,980 shares of the company’s stock valued at $59,000 after acquiring an additional 1,882 shares in the last quarter. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Wednesday, June 15th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Tuesday, June 14th. Cadence Bank’s dividend payout ratio is currently 46.56%.

About Cadence Bank (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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