Cadence Bancorp (CADE)

[Curbstone]

Cadence Bancorp beats Street 4Q forecasts
Associated Press Associated Press•January 24, 2018
HOUSTON (AP)

Cadence Bancorp (CADE) on Wednesday reported fourth-quarter net income of $14.7 million.

The bank, based in Houston, said it had earnings of 17 cents per share. Earnings, adjusted for pretax expenses, came to 39 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The bank holding company posted revenue of $134 million in the period. Its adjusted revenue was $113.6 million, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $110.4 million.

For the year, the company reported profit of $102.4 million, or $1.25 per share. Revenue was reported as $133.8 million.

Cadence Bancorp shares have climbed slightly more than 4 percent since the beginning of the year.