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Cadence Bank - CADE STOCK NEWS

Welcome to our dedicated page for Cadence Bank news (Ticker: CADE), a resource for investors and traders seeking the latest updates and insights on Cadence Bank stock.

Cadence Bank (NYSE: CADE), headquartered in Houston, Texas, is a prominent regional banking company with approximately $50 billion in assets. Operating through its subsidiary, Cadence Bank, the company maintains a robust network of over 350 branches across Alabama, Florida, Mississippi, Tennessee, Texas, and the broader South. Cadence Bank offers a complete suite of banking and financial solutions tailored for consumers, businesses, and corporations. These services include consumer banking, mortgages, home equity lines and loans, credit cards, commercial banking, treasury management, specialized lending, asset-based lending, commercial real estate, equipment financing, correspondent banking, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning, and retirement plan management.

The company prides itself on understanding customer needs and maintaining strong relationships throughout all phases of their financial lives. This approach distinguishes Cadence Bank as a refreshing alternative in the banking sector. With innovative products and methods, Cadence Bank aims to add significant value to both commercial and personal customers. Their hyper-focused customer service team ensures smooth interactions and relationships, guided by top-tier professionals with proven success records.

Cadence Bank is committed to community improvement, enhancing the quality of life in the regions they serve. Notably, the bank has executed several strategic initiatives for long-term growth, such as the completion of the sale of its insurance operations, Cadence Insurance, to Arthur J. Gallagher & Co. for $904 million. This transaction allows Cadence Bank to reinvest in its core banking business, supporting both short- and long-term strategic goals.

Despite the challenges of economic fluctuations, Cadence Bank has consistently demonstrated strong financial performance, maintaining stable credit quality metrics and a robust capital base. This is evidenced by recent quarterly results showing improved operating performance, disciplined growth, and meaningful improvements in key performance metrics.

Cadence Bank's corporate structure embodies respect, diversity, inclusion, and belonging, both within their workplace and the communities they serve. This dedication to social responsibility and community engagement further solidifies their role as a leading regional banking franchise.

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Cadence Bank (NYSE: CADE) announced a new share repurchase program authorizing the buyback of up to 10 million shares, effective January 3, 2023, and expiring December 29, 2023. Previously, Cadence repurchased 6.1 million shares under an expiring program. Purchases will occur at prevailing market prices and may vary based on the company's financial performance, liquidity, and market conditions. This initiative aims to enhance shareholder value and reflects the bank's solid capital position.

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Cadence Bank (NYSE: CADE) announced a $16,000 funding award from the Federal Home Loan Bank of Dallas to Turning Point of South Arkansas through its Partnership Grant Program. This grant, celebrated in El Dorado, Arkansas, will help the nonprofit continue its crucial services aimed at preventing and addressing domestic violence, including operating expenses for its shelter and 24/7 crisis intervention. In 2022, Cadence and FHLB Dallas provided over $99,000 in grants to various nonprofits across Arkansas and neighboring states.

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Cadence Bank (NYSE: CADE), Citizens National Bank, and FHLB Dallas have jointly awarded $18,000 to Twin Forks Rising Community Development Corp. to support housing and community services in Ward 2, Hattiesburg, Mississippi. The grant is part of the Partnership Grant Program, which strengthens ties between community organizations and banks. FHLB Dallas matches contributions at a 3:1 ratio, enhancing the resources available for community development projects. In 2022, FHLB Dallas provided nearly $559,000 to 38 organizations across five states.

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Cadence Bank and the Federal Home Loan Bank of Dallas awarded a $10,000 Partnership Grant to Sacred Heart Southern Missions Housing Corp. in Walls, Mississippi. The funding aims to support low-income residents through economic assistance and homeownership education. FHLB Dallas enhances its matching-fund program, enabling organizations like Sacred Heart to maximize their impact. In total, Cadence Bank and FHLB Dallas allocated $99,379 to nine nonprofits across several states this year, emphasizing community support during challenging economic times.

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Cadence Bank (NYSE: CADE) recently awarded a $6,000 grant to Christmas in April Grenada during a check presentation in Grenada, Mississippi. This funding is part of the Partnership Grant Program (PGP) aimed at assisting nonprofit organizations with operational costs. Christmas in April has successfully repaired nearly 300 homes in its community. This year, Cadence Bank and the Federal Home Loan Bank of Dallas distributed a total of $99,379 to nine nonprofits across Arkansas, Mississippi, Louisiana, and Texas, highlighting the importance of community support initiatives.

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The board of directors of Cadence Bank (NYSE: CADE) declared a quarterly cash dividend of $0.22 per share of common stock, payable on January 3, 2023, to shareholders of record as of December 15, 2022. Additionally, a quarterly dividend of $0.34375 per share of Series A Preferred Stock was announced, payable on November 21, 2022, to shareholders of record by November 4, 2022. Cadence reported a net income of $121.0 million for Q3 2022, equating to $0.66 per diluted share.

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Cadence Bank (NYSE: CADE) reported its financial results for Q3 2022, highlighting a net income of $121.0 million or $0.66 per diluted share. Adjusted earnings grew to $143.7 million, or $0.78 per diluted share, marking a 6.8% increase from Q2 2022. The bank achieved a net organic loan growth of $936.0 million (13.1% annualized) and improved net interest margin to 3.28%, up 22 basis points from the previous quarter. Credit quality remains stable with no provisions for credit losses and net charge-offs at 0.09% of average loans and leases.

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Cadence Bank (NYSE: CADE) unveiled a new brand identity and corporate website on October 18, 2022, following the integration of BancorpSouth and Cadence systems. The new branding reflects the merger's success and aims to enhance customer relationships. Notable features include a redesigned logo symbolizing unity and growth, a vibrant color palette, and a customer-centric website offering a range of financial services. The initiative underscores Cadence's commitment to delivering exceptional service and fostering community prosperity.

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Cadence Bank (NYSE: CADE) will release its third-quarter 2022 earnings on October 24, 2022, after market close. The bank will host a live earnings webcast on October 25, 2022, at 10:00 a.m. CT, allowing interactive participation from analysts. Cadence Bank operates with approximately $50 billion in assets and over 400 branches across the South, Midwest, and Texas, offering a wide range of banking services including consumer loans, mortgages, and business banking solutions.

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Cadence Bank (NYSE: CADE) declared a quarterly cash dividend of $0.22 per share of common stock, payable on October 3, 2022, to shareholders of record on September 15, 2022. Additionally, a cash dividend of $0.34375 per share of Series A Preferred Stock is payable on August 22, 2022. For Q2 2022, net income for common shareholders was $124.6 million, or $0.68 per diluted share, with adjusted income at $134.2 million, or $0.73 per diluted share.

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FAQ

What is the current stock price of Cadence Bank (CADE)?

The current stock price of Cadence Bank (CADE) is $38.88 as of November 22, 2024.

What is the market cap of Cadence Bank (CADE)?

The market cap of Cadence Bank (CADE) is approximately 7.0B.

What services does Cadence Bank offer?

Cadence Bank provides a range of services including consumer banking, mortgages, home equity lines and loans, credit cards, commercial banking, specialized lending, asset-based lending, commercial real estate, equipment financing, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning, and retirement plan management.

Where is Cadence Bank headquartered?

Cadence Bank is headquartered in Houston, Texas.

How extensive is Cadence Bank's branch network?

Cadence Bank operates over 350 branches across Alabama, Florida, Mississippi, Tennessee, Texas, and the broader South.

What was the impact of the sale of Cadence Insurance?

The sale of Cadence Insurance to Arthur J. Gallagher & Co. for $904 million allowed Cadence Bank to reinvest in its core banking business, supporting both short- and long-term strategic goals.

What are Cadence Bank's core values?

Cadence Bank values respect, diversity, inclusion, and belonging, and is committed to improving the communities they serve.

How does Cadence Bank ensure customer satisfaction?

Cadence Bank maintains strong customer relationships through innovative products, hyper-focused customer service, and a dedicated team of professionals with proven success records.

What financial achievements has Cadence Bank recently reported?

Cadence Bank reported improved operating performance, disciplined growth, and meaningful improvements in key performance metrics, with significant progress in loan growth and core customer deposits.

How does Cadence Bank engage with the community?

Cadence Bank is dedicated to making a positive impact in the communities they serve through various community improvement initiatives and social responsibility efforts.

What are Cadence Bank's future strategic goals?

Cadence Bank aims to reinvest in its core banking business, improve operational efficiency, and achieve disciplined growth to enhance their financial performance and community impact.

What is Cadence Bank's market symbol and where can I find the latest news?

Cadence Bank is listed on the NYSE under the symbol CADE. The latest news and updates can be found on their official website and financial news platforms.

Cadence Bank

NYSE:CADE

CADE Rankings

CADE Stock Data

7.05B
155.72M
0.02%
84.85%
3.07%
Banks - Regional
Financial Services
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United States of America
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