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Cadence Bancorp: 2Q Earnings Snapshot

July 22, 2019

HOUSTON (AP) _ Cadence Bancorp (CADE) on Monday reported second-quarter profit of $48.3 million.

The Houston-based bank said it had earnings of 37 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, came to 40 cents per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.

The bank holding company posted revenue of $248.8 million in the period. Its revenue net of interest expense was $192.5 million, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $196.9 million.

Cadence Bancorp shares have risen 17% since the beginning of the year. The stock has declined 34% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CADE at https://www.zacks.com/ap/CADE

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