Cadence Bancorp: 4Q Earnings Snapshot
HOUSTON (AP) _ Cadence Bancorp (CADE) on Monday reported fourth-quarter earnings of $32.3 million.
The Houston-based bank said it had earnings of 39 cents per share. Earnings, adjusted for non-recurring costs, came to 50 cents per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The bank holding company posted revenue of $164.9 million in the period. Its revenue net of interest expense was $124.2 million, beating Street forecasts. Five analysts surveyed by Zacks expected $123.6 million.
For the year, the company reported profit of $166.3 million, or $1.97 per share. Revenue was reported as $482.4 million.
Cadence Bancorp shares have risen 12 percent since the beginning of the year. The stock has fallen 33 percent in the last 12 months.