Equities analysts expect that Cadence Bancorp (NYSE:CADE) will report earnings of $0.45 per share for the current quarter, according to Zacks. Four analysts have issued estimates for Cadence Bancorp’s earnings. The lowest EPS estimate is $0.43 and the highest is $0.47. Cadence Bancorp posted earnings per share of $0.35 during the same quarter last year, which would indicate a positive year over year growth rate of 28.6%. The firm is scheduled to announce its next quarterly earnings report on Monday, May 14th.
On average, analysts expect that Cadence Bancorp will report full-year earnings of $1.86 per share for the current financial year, with EPS estimates ranging from $1.85 to $1.86. For the next financial year, analysts expect that the company will report earnings of $2.05 per share, with EPS estimates ranging from $1.94 to $2.15. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Cadence Bancorp.
Several equities analysts have recently issued reports on CADE shares. BidaskClub downgraded shares of Cadence Bancorp from a “strong-buy” rating to a “buy” rating in a report on Friday, November 10th. Zacks Investment Research upgraded shares of Cadence Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Monday, January 8th. ValuEngine upgraded shares of Cadence Bancorp from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Stephens restated a “buy” rating and set a $32.00 price objective on shares of Cadence Bancorp in a report on Friday, January 26th. Finally, SunTrust Banks restated a “hold” rating and set a $28.00 price objective on shares of Cadence Bancorp in a report on Tuesday, January 9th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $27.38.
A number of large investors have recently modified their holdings of the stock. Strs Ohio increased its holdings in Cadence Bancorp by 8.0% in the 4th quarter. Strs Ohio now owns 29,600 shares of the company’s stock worth $802,000 after buying an additional 2,200 shares during the period. Wells Fargo & Company MN increased its holdings in Cadence Bancorp by 30.2% in the 4th quarter. Wells Fargo & Company MN now owns 14,717 shares of the company’s stock worth $399,000 after buying an additional 3,410 shares during the period. Bank of New York Mellon Corp increased its holdings in Cadence Bancorp by 14.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 27,767 shares of the company’s stock worth $637,000 after buying an additional 3,476 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Cadence Bancorp by 84.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 16,742 shares of the company’s stock worth $453,000 after buying an additional 7,675 shares during the period. Finally, Jane Street Group LLC acquired a new position in Cadence Bancorp in the 3rd quarter worth approximately $210,000. Institutional investors own 9.01% of the company’s stock.
Cadence Bancorp (NYSE:CADE) opened at $25.29 on Friday. Cadence Bancorp has a fifty-two week low of $20.00 and a fifty-two week high of $28.77. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.42. The stock has a market cap of $2,254.53 and a PE ratio of 20.07.
The firm also recently declared a special dividend, which will be paid on Tuesday, March 20th. Investors of record on Thursday, March 1st will be issued a $0.125 dividend. The ex-dividend date is Wednesday, February 28th. This represents a yield of 0.00441540091840339%.
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About Cadence Bancorp
Cadence Bancorporation is a bank holding company. The Company is focused on middle-market commercial lending, complemented by retail banking and wealth management services, and provides a broad range of banking services to businesses, individuals and business owners. It operates through three segments: Banking, Financial Services and Corporate.
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