U.S. Markets close in 5 hrs 46 mins

Cadence Bancorp: 1Q Earnings Snapshot

HOUSTON (AP) _ Cadence Bancorp (CADE) on Monday reported first-quarter profit of $58.2 million.

The bank, based in Houston, said it had earnings of 44 cents per share. Earnings, adjusted for non-recurring costs, were 57 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.

The bank holding company posted revenue of $252.8 million in the period. Its revenue net of interest expense was $200 million, which also beat Street forecasts. Five analysts surveyed by Zacks expected $182.8 million.

Cadence Bancorp shares have risen 28% since the beginning of the year. The stock has dropped 28% in the last 12 months.


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