TUPELO, Miss. (AP) — TUPELO, Miss. (AP) — Cadence Bank (CADE) on Monday reported third-quarter net income of $136.4 million.
The Tupelo, Mississippi-based bank said it had earnings of 72 cents per share. Earnings, adjusted for non-recurring costs, were 73 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The bank posted revenue of $733.6 million in the period. Its revenue net of interest expense was $447.4 million, missing Street forecasts. Four analysts surveyed by Zacks expected $449.9 million.
Cadence shares have increased roughly 10% since the beginning of the year. In the final minutes of trading on Monday, shares hit $32.46, a climb of 56% 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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