Cadence: Q3 Earnings Snapshot

Associated Press Finance
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TUPELO, Miss. (AP) — TUPELO, Miss. (AP) — Cadence Bank (CADE) on Monday reported third-quarter net income of $92.6 million.

The bank, based in Tupelo, Mississippi, said it had earnings of 49 cents per share. Earnings, adjusted for non-recurring costs, came to 56 cents per share.

The results matched Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for earnings of 56 cents per share.

The bank posted revenue of $714.5 million in the period. Its revenue net of interest expense was $448 million, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $460.8 million.

Cadence shares have declined 20% since the beginning of the year. The stock has decreased 27% 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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