Cadence Bancorporation (NYSE:CADE) is expected to report third quarter earnings results, before market open, on Wednesday 21st October 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 0.19 per share.
Looking ahead, the full year income are expected at $ 0.20 per share on the revenues of $ 743.59 million.
Previous Quarter Performance
Cadence Bancorporation reported loss for the second quarter of $ 0.45 per share, from the revenue of $ 184.66 million. The quarterly revenues dropped 4.08 percent compared with the same quarter last year. According to street consensus, CADE was expected to report 2Q20 income of $ 0.12 per share from revenue of $ 188.47 million. The bottom line results missed street analysts by $ 0.57 or 475 percent, at the same time, top line results fell short of analysts by $ 3.81 million or 2.02 percent.
Stock Performance
Shares of Cadence Bancorporation traded up $ 0.47 or 4.48 percent on Tuesday, reaching $ 10.97 with volume of 1.85 million shares. Cadence Bancorporation has traded high as $ 11.19 and has cracked $ 10.65 on the downward trend
The closing price of $ 10.97, representing a 126.78 % increase from the 52 week low of $ 4.63 and a 42.43 % decrease over the 52 week high of $ 18.24.
The company has a market capital of $ 1.38 billion and is part of the Financial Services sector and Banks – Regional – US industry.
Recent Analyst recommendations
- On 30th September 2020, maintained by Piper Sandler at Neutral rating, with $ 10.00 target price.
Recent Stock Dividend Announcement
On July 21, 2020, the board of directors authorized quarterly dividend of $ 0.05 per share to holders of record as of the close of business on July 31, 2020, with payment date of August 7, 2020 and ex-dividend date on July 30, 2020.
Conference Call
Cadence Bancorporation will be hosting a conference call at 8:30 AM eastern time on 21st October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.cadencebank.com
Cadence Bancorporation, a financial holding company, through its subsidiary, Cadence Bank, National Association, provides commercial banking products and services to middle-market commercial businesses, high net worth individuals, business owners, and retail customers in the United States. The company operates through Banking and Financial Services segments. It offers checking, savings, money market, and other deposit accounts.
