Cadence Bk Stock Price, News & Analysis

Cadence Bancorporation (NYSE: CADE) reported a net income of $106.4 million ($0.84 per share) for Q1 2021, down from $200.6 million ($1.57 per share) in Q4 2020, but significantly improved from a net loss of $399.3 million a year ago. Adjusted net income was $104.7 million ($0.83 per share). The bank announced an allowance for credit losses of 2.49% of total loans, decreased from 2.89% in the prior quarter. Total assets reached $18.8 billion, a 9.1% increase year-over-year. A quarterly cash dividend of $0.15 per share was declared, to be paid on May 14, 2021.

BancorpSouth Bank (BXS) reported record financial results for Q1 2021, with net income of $79.2 million ($0.77 per diluted share), up from $21.9 million a year earlier. The bank achieved a pre-tax pre-provision net revenue of $99.1 million, while total deposits grew by $1.3 billion (26.7% annualized). Credit quality indicators improved, with no provision for credit losses and a 16.5% decrease in non-performing assets. BancorpSouth announced a merger with Cadence Bancorporation (CADE), expected to create a $44 billion institution, enhancing growth prospects.

BancorpSouth Bank (NYSE: BXS) and Cadence Bancorporation (NYSE: CADE) announced a transformative merger valued at over $6 billion. Cadence shareholders will receive 0.70 shares of BXS for each CADE share, along with a special cash dividend of $1.25 per share. The merger aims to create a leading regional bank with dual headquarters in Tupelo, MS, and Houston, TX. The combined entity is set to enhance growth opportunities, tap into attractive markets, and realize significant earnings per share accretion of 17% in 2022, driving shareholder value.

Cadence Bancorporation (NYSE: CADE) will hold a conference call on April 22, 2021, at 7:30 a.m. CT to discuss its first quarter 2021 results. A press release will precede the call. Participants can access the call via dedicated toll-free numbers and an Elite Entry Number, 9653528. The presentation will also be available live on the company's website, with a replay option through May 6, 2021. Cadence Bancorporation, based in Houston, Texas, has total assets of $18.7 billion as of December 31, 2020, and operates 98 branches across several states.

Cadence Bancorporation (NYSE: CADE) reported a net income of $200.6 million or $1.57 per share for Q4 2020, a significant increase from $51.4 million or $0.40 per share in Q4 2019. However, the full year showed a net loss of $205.5 million, compared to a profit of $202.0 million in 2019. An accelerated hedge revenue of $169.2 million boosted Q4 performance. Total net interest margin rose to 3.54%, alongside lower provisions for credit losses and an increase in regulatory capital ratios. A cash dividend of $0.15 per share was declared, with a $200 million share repurchase program announced.

Cadence Bancorporation (NYSE: CADE) anticipates a significant change in recognizing hedge revenue, estimating between $165 million and $175 million (pre-tax) in Q4 2020. The bank expects improvements in credit metrics, including a 25% decline in nonperforming loans and a 20% decrease in criticized loans. Furthermore, all regulatory capital ratios are projected to strengthen as a result of increased net income from hedge revenue. Upcoming capital actions may include increased dividends and resuming share repurchases, pending approvals.

Cadence Bancorporation (NYSE: CADE) will host a conference call on January 25, 2021, at 7:30 a.m. CT to discuss its fourth-quarter and full-year 2020 results. Interested participants can access the call via several toll-free numbers. The call will also be webcast live on the company's website. For those unable to attend, a replay will be available until February 8, 2021. As of September 30, 2020, Cadence held $18.4 billion in assets and operates 99 branches across several states, providing a range of banking services.

Cadence Bank has integrated Zelle into its mobile and online banking platforms, enhancing digital payment options for customers. With over 140 million consumers already using Zelle, the service facilitates fast, secure person-to-person transactions directly from bank accounts. Customers can send and receive money using only an email address or mobile number, with funds typically available within minutes. Cadence Bank aims to meet the growing demand for cashless solutions, reflecting a commitment to enhancing customer convenience.

Cadence Bancorporation (NYSE: CADE) reported a net income of $49.3 million or $0.39 per share for Q3 2020, up from $44.0 million or $0.34 per share in Q3 2019, and reversing a net loss of ($56.1 million) in Q2 2020. Adjusted net income reached $51.4 million or $0.40 per share. The bank's net interest margin remained stable at 3.49%. Common Equity Tier 1 capital increased to 12.0%. Despite improvements in credit quality, the bank experienced ongoing credit pressures linked to COVID-19, impacting sectors like hospitality and restaurants.