Cadence Bancorp: 3Q Earnings Snapshot
HOUSTON (AP) _ Cadence Bancorp (CADE) on Wednesday reported third-quarter net income of $44 million.
The bank, based in Houston, said it had earnings of 34 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The bank holding company posted revenue of $247.8 million in the period. Its revenue net of interest expense was $194.8 million, beating Street forecasts. Three analysts surveyed by Zacks expected $191.7 million.
Cadence Bancorp shares have climbed almost 7% since the beginning of the year. The stock has decreased 17% in the last 12 months.