TUPELO, Miss. (AP) — TUPELO, Miss. (AP) — Cadence Bank (CADE) on Monday reported third-quarter earnings of $129.8 million.
The bank, based in Tupelo, Mississippi, said it had earnings of 67 cents per share. Earnings, adjusted for non-recurring costs, came to 81 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The bank posted revenue of $798.1 million in the period. Its revenue net of interest expense was $517.2 million, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $527.6 million.
Cadence shares have increased almost 8% since the beginning of the year. In the final minutes of trading on Monday, shares hit $37.06, an increase of 13% 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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