Cadence Bk Stock Price, News & Analysis

On April 26, 2023, Cadence Bank (NYSE: CADE) declared a quarterly cash dividend of $0.235 per share for common stock, payable on July 3, 2023, to shareholders of record by June 15, 2023. Additionally, a preferred stock dividend of $0.34375 per share is scheduled for May 22, 2023, for shareholders of record by May 5, 2023. For Q1 2023, Cadence reported a net income of $74.3 million, or $0.40 per diluted share, with adjusted net income of $124.4 million, or $0.68 per diluted share. With approximately $50 billion in assets and over 350 branches, Cadence continues to offer a comprehensive range of banking services across the South and Texas.

Cadence Bank (NYSE: CADE) reported its financial performance for the first quarter of 2023, achieving a net income of $74.3 million ($0.40 per diluted share) compared to $112.6 million ($0.60) in Q1 2022. Adjusted net income increased slightly to $124.4 million ($0.68 per diluted share). The bank witnessed deposit growth of $449.8 million (4.7% annualized) and organic loan growth of $933.3 million (12.5% annualized). However, net interest revenue declined to $354.3 million, down 1.42% from the last quarter. Noninterest revenue dropped to $74.1 million, primarily due to a $51.3 million loss on securities sales. The bank announced plans to consolidate 35 branches, projecting annual cost savings of $15-20 million.

Cadence Bank (NYSE: CADE) is set to announce its first-quarter 2023 earnings on April 24, 2023, after market close. A subsequent earnings webcast will occur on April 25, 2023, at 10:00 a.m. CT, allowing analysts and the public to engage in a Q&A session. Cadence Bank operates approximately $50 billion in assets and serves customers through around 400 branch locations across the South and Texas, offering a broad range of financial services, including consumer banking, commercial banking, and wealth management. The bank emphasizes a culture of respect, diversity, and inclusion.

Cadence Bank (NYSE: CADE) reported strong financial results for 2022, achieving a net income of $453.7 million, or $2.46 per diluted share. Adjusted net income reached $542.3 million, or $2.94 per diluted share. The bank generated organic loan growth of $3.5 billion, reflecting a 12.9% increase, and improved its net interest margin to 3.15%. For Q4 2022, net income stood at $95.6 million, with adjusted net income of $142.9 million. The bank maintained stable credit quality metrics, with non-performing loans down to 0.36% of total loans. Cadence also completed its merger integration, enhancing operational efficiency.

Cadence Bank (NYSE: CADE) announced an increase in its quarterly cash dividend to $0.235 per share, up 6.8% from $0.22. This dividend is payable on April 3, 2023, to shareholders of record by March 15, 2023. Additionally, a dividend of $0.34375 per share of Series A Preferred Stock will be paid on February 21, 2023, to shareholders of record by February 3, 2023. Cadence Bank will release its fourth-quarter financial results on January 30, 2023.