Cadence Bank (NYSE:CADE) Given New $37.00 Price Target at Barclays

Cadence Bank (NYSE:CADE) had its target price boosted by Barclays from $35.00 to $37.00 in a research report report published on Wednesday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

CADE has been the topic of several other research reports. DA Davidson boosted their target price on shares of Cadence Bank from $34.50 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Morgan Stanley raised Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $36.00 to $39.00 in a report on Monday, September 30th. Jefferies Financial Group lowered their price target on Cadence Bank from $31.00 to $29.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Truist Financial reduced their price objective on Cadence Bank from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Finally, Hovde Group lifted their target price on shares of Cadence Bank from $33.00 to $36.50 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.29.

Cadence Bank Stock Performance

NYSE CADE opened at $33.82 on Wednesday. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 10.81 and a beta of 0.96. The stock has a 50-day moving average of $31.71 and a 200 day moving average of $29.91. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.05. Cadence Bank has a twelve month low of $19.94 and a twelve month high of $34.25.

Cadence Bank (NYSE:CADE) last announced its earnings results on Monday, October 21st. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.09. Cadence Bank had a return on equity of 8.82% and a net margin of 24.42%. The business had revenue of $447.36 million during the quarter, compared to the consensus estimate of $450.97 million. During the same period in the prior year, the company posted $0.56 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts anticipate that Cadence Bank will post 2.57 EPS for the current fiscal year.

Institutional Trading of Cadence Bank

Several institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in Cadence Bank in the third quarter worth approximately $25,000. GAMMA Investing LLC increased its position in shares of Cadence Bank by 77.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock worth $28,000 after purchasing an additional 436 shares during the last quarter. Innealta Capital LLC purchased a new stake in Cadence Bank in the 2nd quarter valued at about $138,000. Davis Investment Partners LLC acquired a new position in Cadence Bank in the third quarter valued at about $202,000. Finally, Argent Advisors Inc. acquired a new position in Cadence Bank in the first quarter valued at about $204,000. Hedge funds and other institutional investors 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.