Equities research analysts forecast that Cadence Bancorp (NYSE:CADE) will post $112.27 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Cadence Bancorp’s earnings, with estimates ranging from $108.70 million to $113.68 million. Cadence Bancorp reported sales of $98.86 million during the same quarter last year, which indicates a positive year-over-year growth rate of 13.6%. The business is scheduled to issue its next earnings results after the market closes on Wednesday, April 25th.
According to Zacks, analysts expect that Cadence Bancorp will report full year sales of $112.27 million for the current year, with estimates ranging from $454.30 million to $473.40 million. For the next year, analysts forecast that the company will post sales of $504.67 million per share, with estimates ranging from $493.00 million to $520.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Cadence Bancorp.
Cadence Bancorp (NYSE:CADE) last released its quarterly earnings results on Wednesday, January 24th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Cadence Bancorp had a net margin of 20.60% and a return on equity of 9.50%. The business had revenue of $113.57 million for the quarter, compared to analyst estimates of $110.42 million.
Several institutional investors and hedge funds have recently bought and sold shares of CADE. Meadow Creek Investment Management LLC acquired a new stake in shares of Cadence Bancorp in the 4th quarter valued at approximately $157,000. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Cadence Bancorp in the 4th quarter valued at approximately $177,000. Jane Street Group LLC acquired a new stake in shares of Cadence Bancorp in the 3rd quarter valued at approximately $210,000. SG Americas Securities LLC acquired a new stake in shares of Cadence Bancorp in the 3rd quarter valued at approximately $245,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Cadence Bancorp by 1,026.2% in the 3rd quarter. Wells Fargo & Company MN now owns 11,307 shares of the company’s stock valued at $259,000 after purchasing an additional 10,303 shares in the last quarter. Institutional investors own 23.69% of the company’s stock.
CADE stock traded up $0.17 during mid-day trading on Monday, hitting $26.90. The stock had a trading volume of 202,406 shares, compared to its average volume of 429,260. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.35. Cadence Bancorp has a 52 week low of $20.00 and a 52 week high of $29.30. The firm has a market cap of $2,235.30 and a P/E ratio of 18.18.
The company also recently announced a special dividend, which was paid on Tuesday, March 20th. Shareholders of record on Thursday, March 1st were issued a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. Cadence Bancorp’s dividend payout ratio is currently 33.78%.
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Cadence Bancorp Company Profile
Cadence Bancorp is a bank holding company. The company is focused on providing range of banking and wealth management services to businesses, individuals, business owners and retail customers. It operates through three segments: Banking, Financial Services and Corporate. The Banking segment offers a range of deposit products and lending services through its commercial banking, retail banking and private banking business lines.
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