Cadence Bank (CADE) To Go Ex-Dividend on June 14th

Cadence Bank (NYSE:CADE) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Friday, June 14th will be paid a dividend of 0.25 per share on Monday, July 1st. This represents a $1.00 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Friday, June 14th.

Cadence Bank has decreased its dividend payment by an average of 5.0% annually over the last three years and has raised its dividend every year for the last 3 years. Cadence Bank has a dividend payout ratio of 36.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cadence Bank to earn $2.75 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 36.4%.

Cadence Bank Stock Performance

Shares of NYSE:CADE traded up $0.08 during trading on Friday, hitting $29.14. 142,110 shares of the stock were exchanged, compared to its average volume of 1,371,175. Cadence Bank has a 1-year low of $16.95 and a 1-year high of $31.45. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 9.28 and a beta of 1.02. The company’s fifty day simple moving average is $27.71 and its 200-day simple moving average is $26.55. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. The company had revenue of $437.69 million for the quarter, compared to analyst estimates of $427.18 million. Cadence Bank had a return on equity of 8.97% and a net margin of 23.83%. Cadence Bank’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 EPS. Sell-side analysts expect that Cadence Bank will post 2.39 EPS for the current fiscal year.

Analyst Ratings Changes

CADE has been the topic of a number of recent research reports. Barclays raised their price objective on Cadence Bank from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Citigroup lifted their price target on Cadence Bank from $27.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, December 29th. DA Davidson reissued a “buy” rating on shares of Cadence Bank in a report on Monday, January 15th. Jefferies Financial Group cut their target price on Cadence Bank from $30.00 to $29.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Finally, Raymond James cut their target price on Cadence Bank from $35.00 to $34.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cadence Bank presently has an average rating of “Moderate Buy” and an average price target of $31.09.

About Cadence Bank

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.