Cadence Bank (NYSE:CADE) Given Average Rating of “Moderate Buy” by Analysts

Shares of Cadence Bank (NYSE:CADE) have received a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $37.32.

A number of brokerages recently issued reports on CADE. Truist Financial lifted their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their target price on shares of Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $41.00 to $44.00 in a research report on Thursday, December 19th. Royal Bank of Canada lifted their price target on Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $36.00 to $39.00 in a research note on Monday, September 30th.

Institutional Trading of Cadence Bank

Several hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB lifted its position in Cadence Bank by 2.1% in the 4th quarter. Nordea Investment Management AB now owns 95,640 shares of the company’s stock valued at $3,302,000 after purchasing an additional 1,935 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Cadence Bank by 19.3% in the fourth quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock valued at $64,000 after purchasing an additional 301 shares during the period. Franklin Resources Inc. bought a new stake in shares of Cadence Bank during the third quarter valued at approximately $947,000. Synovus Financial Corp acquired a new position in shares of Cadence Bank during the third quarter worth approximately $848,000. Finally, Tidal Investments LLC boosted its position in shares of Cadence Bank by 8.1% during the third quarter. Tidal Investments LLC now owns 9,769 shares of the company’s stock worth $311,000 after buying an additional 730 shares during the period. Institutional investors own 84.61% of the company’s stock.

Cadence Bank Stock Down 0.6 %

Shares of NYSE CADE opened at $34.73 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. Cadence Bank has a 1 year low of $24.99 and a 1 year high of $40.20. The stock’s 50-day simple moving average is $36.33 and its 200-day simple moving average is $32.95. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of 9.98 and a beta of 1.00.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings data on Monday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.09. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. The company had revenue of $447.36 million for the quarter, compared to the consensus estimate of $450.97 million. During the same period in the previous year, the business earned $0.56 EPS. Cadence Bank’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, equities analysts anticipate that Cadence Bank will post 2.71 earnings per share for the current fiscal year.

Cadence Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.88%. The ex-dividend date was Friday, December 13th. Cadence Bank’s dividend payout ratio (DPR) is presently 28.74%.

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.