Cadence Bank (NYSE:CADE) Announces Quarterly Dividend of $0.28

by · The Markets Daily

Cadence Bank (NYSE:CADE – Get Free Report) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Shareholders of record on Wednesday, February 5th will be given a dividend of 0.275 per share on Thursday, February 20th. This represents a $1.10 dividend on an annualized basis and a yield of 3.06%. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25.

Cadence Bank has increased its dividend payment by an average of 8.6% annually over the last three years and has raised its dividend every year for the last 13 years. Cadence Bank has a payout ratio of 32.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cadence Bank to earn $2.87 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 34.8%.

Cadence Bank Stock Down 0.0 %

Shares of CADE stock traded down $0.00 during trading hours on Wednesday, hitting $35.93. 1,431,171 shares of the company were exchanged, compared to its average volume of 1,247,942. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. Cadence Bank has a one year low of $24.99 and a one year high of $40.20. The business’s 50-day simple moving average is $36.16 and its two-hundred day simple moving average is $33.44. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 10.32 and a beta of 1.00.

Cadence Bank (NYSE:CADE – Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. Sell-side analysts predict that Cadence Bank will post 2.71 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on CADE. Morgan Stanley raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $36.00 to $39.00 in a research report on Monday, September 30th. Truist Financial upped their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. DA Davidson upped their target price on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $41.00 to $44.00 in a research report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cadence Bank has a consensus rating of “Moderate Buy” and a consensus target price of $37.32.

Read Our Latest Stock Report on CADE

Cadence Bank Company Profile

(Get Free Report)

Cadence Bank provides commercial banking and financial services. 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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