Cadence Bank (NYSE:CADE) Given Average Rating of “Moderate Buy” by Analysts

Shares of Cadence Bank (NYSE:CADE) have earned an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $38.77.

A number of equities research analysts have issued reports on the company. Morgan Stanley decreased their price objective on Cadence Bank from $46.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Royal Bank of Canada restated a “sector perform” rating and set a $38.00 price objective on shares of Cadence Bank in a research report on Friday, January 24th. Citigroup upped their price objective on Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Stephens restated an “overweight” rating and set a $42.00 price objective on shares of Cadence Bank in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods upped their price objective on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

Cadence Bank Trading Up 0.6 %

NYSE:CADE opened at $30.30 on Monday. The company has a market capitalization of $5.52 billion, a P/E ratio of 10.94 and a beta of 0.96. Cadence Bank has a 12 month low of $26.16 and a 12 month high of $40.20. The business’s 50-day moving average is $33.34 and its 200 day moving average is $34.00.

Cadence Bank (NYSE:CADE) last posted its earnings results on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a return on equity of 9.87% and a net margin of 18.03%. During the same period in the prior year, the company earned $0.40 EPS. On average, research analysts forecast that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.63%. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, March 14th. Cadence Bank’s dividend payout ratio is presently 39.71%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brooklyn Investment Group bought a new stake in Cadence Bank during the 4th quarter valued at $26,000. Mather Group LLC. boosted its position in Cadence Bank by 716.2% during the 4th quarter. Mather Group LLC. now owns 808 shares of the company’s stock valued at $28,000 after acquiring an additional 709 shares in the last quarter. Keystone Financial Group Inc. bought a new stake in Cadence Bank during the 4th quarter valued at $31,000. Point72 Hong Kong Ltd bought a new stake in Cadence Bank during the 3rd quarter valued at $32,000. Finally, Smartleaf Asset Management LLC boosted its position in Cadence Bank by 163.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock valued at $40,000 after acquiring an additional 722 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

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.