Analysts Set Cadence Bank (NYSE:CADE) PT at $38.09

Cadence Bank (NYSE:CADE) has been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $38.09.

CADE has been the subject of a number of research reports. Stephens restated an “overweight” rating and set a $42.00 target price on shares of Cadence Bank in a research report on Thursday, January 23rd. Hovde Group dropped their price objective on shares of Cadence Bank from $40.00 to $35.00 and set a “market perform” rating for the company in a report on Wednesday, April 2nd. 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. Barclays decreased their target price on Cadence Bank from $44.00 to $38.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Citigroup raised their price target on Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, January 27th.

Institutional Investors Weigh In On Cadence Bank

Hedge funds have recently made changes to their positions in the stock. Brooklyn Investment Group purchased a new position in Cadence Bank in the fourth quarter valued at about $26,000. Mather Group LLC. boosted its holdings in shares of Cadence Bank by 716.2% in the 4th quarter. Mather Group LLC. now owns 808 shares of the company’s stock valued at $28,000 after buying an additional 709 shares in the last quarter. Keystone Financial Group Inc. purchased a new position in shares of Cadence Bank in the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC raised its stake in shares of Cadence Bank by 163.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock worth $40,000 after acquiring an additional 722 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in shares of Cadence Bank by 504.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,718 shares of the company’s stock worth $59,000 after acquiring an additional 1,434 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Bank Stock Up 0.9 %

Shares of Cadence Bank stock opened at $27.21 on Friday. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 9.82 and a beta of 0.87. The stock’s 50-day simple moving average is $31.19 and its 200-day simple moving average is $33.71. Cadence Bank has a 52 week low of $25.22 and a 52 week high of $40.20.

Cadence Bank (NYSE:CADE) last posted its quarterly 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 previous year, the firm posted $0.40 EPS. On average, equities analysts expect that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.275 per share. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.10 dividend on an annualized basis and a yield of 4.04%. Cadence Bank’s dividend payout ratio (DPR) is 39.71%.

Cadence Bank Company Profile

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.