Cadence Bank (NYSE:CADE – Get Free Report) had its price objective lifted by equities researchers at Truist Financial from $31.00 to $38.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 13.87% from the company’s previous close.
CADE has been the subject of several other reports. Keefe, Bruyette & Woods increased their price objective on Cadence Bank from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Barclays increased their price objective on Cadence Bank from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, June 24th. Piper Sandler lowered Cadence Bank from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $33.00 to $34.00 in a research report on Wednesday. Stephens restated an “overweight” rating and set a $35.00 price target on shares of Cadence Bank in a research report on Tuesday. Finally, Hovde Group raised their price target on Cadence Bank from $33.00 to $36.50 and gave the stock an “outperform” rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cadence Bank currently has an average rating of “Moderate Buy” and a consensus target price of $33.79.
View Our Latest Research Report on CADE
Cadence Bank Price Performance
Cadence Bank (NYSE:CADE – Get Free Report) last announced its earnings results on Monday, July 22nd. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.08. The business had revenue of $742.87 million during the quarter, compared to analysts’ expectations of $439.63 million. Cadence Bank had a return on equity of 9.00% and a net margin of 24.42%. During the same quarter in the prior year, the firm earned $0.64 earnings per share. As a group, analysts predict that Cadence Bank will post 2.48 EPS for the current fiscal year.
Institutional Investors Weigh In On Cadence Bank
Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in shares of Cadence Bank by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,240,127 shares of the company’s stock valued at $273,421,000 after acquiring an additional 376,989 shares during the period. Halter Ferguson Financial Inc. acquired a new position in shares of Cadence Bank during the 4th quarter worth approximately $3,023,000. New York State Common Retirement Fund raised its position in shares of Cadence Bank by 49.4% during the 4th quarter. New York State Common Retirement Fund now owns 112,255 shares of the company’s stock worth $3,322,000 after purchasing an additional 37,129 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Cadence Bank by 32.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 68,892 shares of the company’s stock worth $1,998,000 after purchasing an additional 16,850 shares during the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of Cadence Bank during the 1st quarter worth approximately $716,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.
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.
Read More
- Five stocks we like better than Cadence Bank
- Canada Bond Market Holiday: How to Invest and Trade
- Viking Therapeutics: Pharma Stock Soars on Positive Earnings
- How to Invest in the Best Canadian StocksĀ
- Top 3 Small Cap Stocks Emerging as Rotation Winners
- Why Are Stock Sectors Important to Successful Investing?
- Bargain Alert: 3 Stocks Worth Watching While The Market Cools
Receive News & Ratings for Cadence Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Bank and related companies with MarketBeat.com's FREE daily email newsletter.