TUPELO, Miss. (AP) — TUPELO, Miss. (AP) — Cadence Bank (CADE) on Monday reported first-quarter earnings of $133.2 million.
The Tupelo, Mississippi-based bank said it had earnings of 70 cents per share. Earnings, adjusted for one-time gains and costs, came to 71 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.
The bank posted revenue of $684.6 million in the period. Its revenue net of interest expense was $448.5 million, missing Street forecasts. Three analysts surveyed by Zacks expected $451.6 million.
Cadence shares have dropped 20% since the beginning of the year. In the final minutes of trading on Monday, shares hit $27.59, a rise of roughly 5% 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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