Analysts Set Cadence Bank (NYSE:CADE) Price Target at $37.32

Shares of Cadence Bank (NYSE:CADE) have been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $37.32.

A number of research firms recently weighed in on CADE. Barclays raised Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $41.00 to $44.00 in a research report on Thursday, December 19th. Keefe, Bruyette & Woods lifted their price target on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Morgan Stanley raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $36.00 to $39.00 in a research report on Monday, September 30th. DA Davidson lifted their target price on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada increased their price target on shares of Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd.

Hedge Funds Weigh In On Cadence Bank

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Cadence Bank by 19.3% in the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock worth $64,000 after purchasing an additional 301 shares during the period. Franklin Resources Inc. purchased a new position in shares of Cadence Bank during the 3rd quarter worth $947,000. Synovus Financial Corp purchased a new position in shares of Cadence Bank during the 3rd quarter worth $848,000. Tidal Investments LLC grew its position in shares of Cadence Bank by 8.1% during the 3rd quarter. Tidal Investments LLC now owns 9,769 shares of the company’s stock valued at $311,000 after acquiring an additional 730 shares during the period. Finally, TD Private Client Wealth LLC increased its stake in shares of Cadence Bank by 23.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 4,954 shares of the company’s stock worth $158,000 after purchasing an additional 926 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Bank Stock Up 2.2 %

NYSE:CADE opened at $34.45 on Wednesday. Cadence Bank has a 1-year low of $24.99 and a 1-year high of $40.20. The company has a market capitalization of $6.28 billion, a PE ratio of 9.90 and a beta of 0.98. The firm’s 50-day moving average price is $36.29 and its 200-day moving average price is $32.77. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87.

Cadence Bank (NYSE:CADE) last announced its earnings results on Monday, October 21st. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.09. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. The business had revenue of $447.36 million during the quarter, compared to the consensus estimate of $450.97 million. During the same quarter last year, the firm earned $0.56 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities analysts predict that Cadence Bank will post 2.71 EPS for the current fiscal year.

Cadence Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Friday, December 13th. Cadence Bank’s dividend payout ratio is currently 28.74%.

About Cadence Bank

Cadence Bank provides commercial banking and financial services. Its products and services include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialized and asset-based lending, commercial real estate, equipment financing, and correspondent banking services.