Analysts Set Cadence Bank (NYSE:CADE) PT at $38.14

Shares of Cadence Bank (NYSE:CADE) have been assigned an average rating of “Moderate Buy” from the twelve analysts that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $38.13.

Several research firms have recently issued reports on CADE. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $38.00 price target on shares of Cadence Bank in a research note on Friday, January 24th. Citigroup lifted their price target on Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday. Stephens reaffirmed an “overweight” rating and set a $42.00 price target on shares of Cadence Bank in a research note on Thursday, January 23rd. 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 note on Wednesday, December 4th. Finally, DA Davidson lifted their price target on Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd.

Cadence Bank Price Performance

Cadence Bank stock opened at $35.17 on Friday. Cadence Bank has a one year low of $24.99 and a one year high of $40.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. The business has a fifty day moving average of $35.90 and a two-hundred day moving average of $33.67. The company has a market cap of $6.41 billion, a P/E ratio of 12.69 and a beta of 1.00.

Cadence Bank (NYSE:CADE) last released its earnings results on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a return on equity of 9.98% and a net margin of 18.03%. During the same period in the prior year, the company earned $0.40 earnings per share. As a group, analysts predict that Cadence Bank will post 2.87 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.13%. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s payout ratio is presently 36.10%.

Institutional Trading of Cadence Bank

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new position in shares of Cadence Bank during the 3rd quarter valued at approximately $11,727,000. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Cadence Bank by 16.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock valued at $66,360,000 after buying an additional 291,885 shares during the last quarter. Segall Bryant & Hamill LLC boosted its stake in shares of Cadence Bank by 21.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,331,112 shares of the company’s stock valued at $42,396,000 after buying an additional 237,748 shares during the last quarter. FMR LLC boosted its stake in shares of Cadence Bank by 1.2% during the 3rd quarter. FMR LLC now owns 16,423,050 shares of the company’s stock valued at $523,074,000 after buying an additional 195,773 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Cadence Bank during the 3rd quarter valued at approximately $5,511,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.