Analysts forecast that Cadence Bancorp (NYSE:CADE) will report $139.21 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Cadence Bancorp’s earnings. The highest sales estimate is $162.50 million and the lowest is $123.54 million. Cadence Bancorp reported sales of $113.57 million during the same quarter last year, which indicates a positive year over year growth rate of 22.6%. The company is expected to issue its next quarterly earnings results on Wednesday, January 23rd.
According to Zacks, analysts expect that Cadence Bancorp will report full-year sales of $491.73 million for the current fiscal year, with estimates ranging from $480.10 million to $522.80 million. For the next year, analysts expect that the business will report sales of $729.03 million, with estimates ranging from $518.36 million to $793.60 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Cadence Bancorp.
Cadence Bancorp (NYSE:CADE) last issued its quarterly earnings data on Monday, October 22nd. The company reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.05. Cadence Bancorp had a net margin of 25.78% and a return on equity of 12.41%. The company had revenue of $122.08 million during the quarter, compared to the consensus estimate of $120.97 million.
In other news, insider Valerie Toalson sold 25,160 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $27.41, for a total transaction of $689,635.60. Following the completion of the sale, the insider now owns 11,608 shares of the company’s stock, valued at $318,175.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jerry W. Powell purchased 4,000 shares of the firm’s stock in a transaction dated Wednesday, October 24th. The shares were bought at an average cost of $20.49 per share, with a total value of $81,960.00. The disclosure for this purchase can be found here. Insiders sold 401,103 shares of company stock valued at $10,994,233 in the last ninety days. 0.09% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in shares of Cadence Bancorp by 58.5% during the third quarter. JPMorgan Chase & Co. now owns 3,568,721 shares of the company’s stock worth $93,215,000 after buying an additional 1,316,722 shares in the last quarter. Systematic Financial Management LP grew its position in shares of Cadence Bancorp by 11.1% during the third quarter. Systematic Financial Management LP now owns 481,852 shares of the company’s stock worth $12,586,000 after buying an additional 48,222 shares in the last quarter. Connable Office Inc. grew its position in shares of Cadence Bancorp by 25.5% during the third quarter. Connable Office Inc. now owns 13,059 shares of the company’s stock worth $341,000 after buying an additional 2,650 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Cadence Bancorp by 26.9% during the third quarter. Wells Fargo & Company MN now owns 321,544 shares of the company’s stock worth $8,399,000 after buying an additional 68,124 shares in the last quarter. Finally, Pitcairn Co. acquired a new stake in shares of Cadence Bancorp during the third quarter worth approximately $290,000. 73.49% of the stock is owned by institutional investors and hedge funds.
NYSE:CADE traded down $0.41 during trading hours on Friday, hitting $21.69. The stock had a trading volume of 1,253,500 shares, compared to its average volume of 1,023,055. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.34. Cadence Bancorp has a 1-year low of $20.34 and a 1-year high of $31.44. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 14.66 and a beta of 1.20.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.77%. The ex-dividend date is Friday, November 30th. Cadence Bancorp’s dividend payout ratio (DPR) is 40.54%.
Cadence Bancorp Company Profile
Cadence Bancorporation operates as the bank holding company for Cadence Bank, N.A. that provides commercial banking products and services to businesses, high net worth individuals, business owners, and retail customers in the United States. The company operates through Banking and Financial Services segments.
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