Wall Street brokerages expect Cadence Bancorp (NYSE:CADE) to announce earnings per share of $0.52 for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Cadence Bancorp’s earnings, with the highest EPS estimate coming in at $0.52 and the lowest estimate coming in at $0.50. Cadence Bancorp posted earnings per share of $0.39 in the same quarter last year, which indicates a positive year-over-year growth rate of 33.3%. The business is scheduled to issue its next quarterly earnings report before the market opens on Monday, October 22nd.

According to Zacks, analysts expect that Cadence Bancorp will report full-year earnings of $2.01 per share for the current fiscal year, with EPS estimates ranging from $1.94 to $2.09. For the next financial year, analysts expect that the business will post earnings of $2.29 per share, with EPS estimates ranging from $2.24 to $2.40. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Cadence Bancorp.

Cadence Bancorp (NYSE:CADE) last released its earnings results on Monday, July 23rd. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.08. Cadence Bancorp had a return on equity of 11.24% and a net margin of 24.49%. The firm had revenue of $120.10 million during the quarter, compared to analysts’ expectations of $119.49 million. During the same quarter last year, the business posted $0.35 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis.

Several analysts recently issued reports on the company. Zacks Investment Research cut Cadence Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 27th. ValuEngine cut Cadence Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Morgan Stanley assumed coverage on Cadence Bancorp in a research report on Tuesday. They set an “equal weight” rating and a $30.00 target price for the company. Finally, Raymond James cut their target price on Cadence Bancorp from $36.00 to $35.00 and set a “strong-buy” rating for the company in a research report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $31.29.

Shares of NYSE:CADE traded up $0.05 during trading on Thursday, hitting $26.15. 1,249,400 shares of the company’s stock were exchanged, compared to its average volume of 944,039. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.34. Cadence Bancorp has a 52-week low of $21.81 and a 52-week high of $31.44. The stock has a market capitalization of $2.22 billion, a P/E ratio of 17.67 and a beta of 0.44.

The company also recently declared a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Tuesday, September 4th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Friday, August 31st. This is a boost from Cadence Bancorp’s previous quarterly dividend of $0.13. Cadence Bancorp’s dividend payout ratio (DPR) is currently 40.54%.

In other Cadence Bancorp news, Chairman Paul B. Murphy, Jr. sold 275,000 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $27.41, for a total transaction of $7,537,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $689,635.60. Following the transaction, the insider now owns 11,608 shares of the company’s stock, valued at approximately $318,175.28. The disclosure for this sale can be found here. Insiders have sold a total of 401,103 shares of company stock valued at $10,994,233 in the last 90 days. 0.09% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Cadence Bancorp by 54.4% during the 2nd quarter. BlackRock Inc. now owns 4,533,126 shares of the company’s stock valued at $130,871,000 after buying an additional 1,597,388 shares in the last quarter. Earnest Partners LLC grew its holdings in Cadence Bancorp by 0.4% during the 2nd quarter. Earnest Partners LLC now owns 2,693,062 shares of the company’s stock valued at $77,749,000 after buying an additional 10,316 shares in the last quarter. FMR LLC grew its holdings in Cadence Bancorp by 1,022.2% during the 2nd quarter. FMR LLC now owns 2,392,476 shares of the company’s stock valued at $69,071,000 after buying an additional 2,179,276 shares in the last quarter. Millennium Management LLC grew its holdings in Cadence Bancorp by 17.6% during the 2nd quarter. Millennium Management LLC now owns 2,222,567 shares of the company’s stock valued at $64,166,000 after buying an additional 332,271 shares in the last quarter. Finally, Citadel Advisors LLC grew its holdings in Cadence Bancorp by 6,928.7% during the 2nd quarter. Citadel Advisors LLC now owns 2,084,698 shares of the company’s stock valued at $60,185,000 after buying an additional 2,055,038 shares in the last quarter. Institutional investors and hedge funds own 67.69% of the company’s stock.

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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Earnings History and Estimates for Cadence Bancorp (NYSE:CADE)

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