Cadence Bank (NYSE:CADE) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Cadence Bank (NYSE:CADE) have earned an average rating of “Moderate Buy” from the eleven analysts that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $38.14.

Several research firms have recently weighed in on CADE. Stephens reissued an “overweight” rating and issued a $42.00 price objective on shares of Cadence Bank in a research report on Thursday. Truist Financial boosted their price objective on Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Morgan Stanley raised Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $36.00 to $39.00 in a research report on Monday, September 30th. Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $41.00 to $44.00 in a report on Thursday, December 19th. Finally, DA Davidson raised their price objective on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd.

Cadence Bank Stock Performance

Shares of CADE opened at $35.13 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. Cadence Bank has a one year low of $24.99 and a one year high of $40.20. The company’s fifty day moving average price is $35.98 and its 200 day moving average price is $33.56. The company has a market capitalization of $6.40 billion, a PE ratio of 12.68 and a beta of 1.00.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings data 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 9.98% and a net margin of 18.03%. During the same period last year, the firm earned $0.40 EPS. As a group, analysts expect that Cadence Bank will post 2.87 earnings per share for the current year.

Cadence Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.13%. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, March 14th. Cadence Bank’s dividend payout ratio is currently 39.71%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Cadence Bank by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company’s stock valued at $138,974,000 after purchasing an additional 39,679 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Cadence Bank by 31.2% in the third quarter. Cerity Partners LLC now owns 64,377 shares of the company’s stock valued at $2,050,000 after buying an additional 15,312 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Cadence Bank by 18.1% in the third quarter. Stifel Financial Corp now owns 21,034 shares of the company’s stock valued at $670,000 after buying an additional 3,218 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in 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 worth $66,360,000 after buying an additional 291,885 shares in the last quarter. Finally, Franklin Resources Inc. bought a new stake in Cadence Bank during the 3rd quarter worth about $947,000. 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.