Cadence Bank (NYSE:CADE) Receives $34.46 Average Target Price from Analysts

Cadence Bank (NYSE:CADE) has earned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $34.63.

A number of analysts recently weighed in on CADE shares. Morgan Stanley increased their price target on shares of Cadence Bank from $30.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Barclays increased their target price on shares of Cadence Bank from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday. DA Davidson boosted their price target on shares of Cadence Bank from $34.50 to $39.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Truist Financial dropped their price objective on Cadence Bank from $38.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Finally, Stephens reissued an “overweight” rating and issued a $35.00 target price on shares of Cadence Bank in a research note on Tuesday, July 23rd.

Cadence Bank Price Performance

CADE opened at $31.28 on Monday. The company has a fifty day moving average price of $31.35 and a two-hundred day moving average price of $29.40. The firm has a market capitalization of $5.70 billion, a PE ratio of 9.99 and a beta of 0.97. Cadence Bank has a 52 week low of $19.67 and a 52 week high of $34.13. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.86 and a current ratio of 0.86.

Cadence Bank (NYSE:CADE) last released its quarterly earnings data on Monday, July 22nd. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.08. Cadence Bank had a return on equity of 8.82% and a net margin of 24.42%. The business had revenue of $742.87 million during the quarter, compared to the consensus estimate of $439.63 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. As a group, analysts anticipate that Cadence Bank will post 2.55 earnings per share for the current year.

Cadence Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Friday, September 13th. Cadence Bank’s dividend payout ratio is presently 31.95%.

Hedge Funds Weigh In On Cadence Bank

Several hedge funds have recently modified their holdings of CADE. Norges Bank acquired a new stake in shares of Cadence Bank in the fourth quarter valued at approximately $60,490,000. PNC Financial Services Group Inc. increased its position in Cadence Bank by 19.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 14,488 shares of the company’s stock worth $429,000 after purchasing an additional 2,376 shares in the last quarter. UBS Group AG lifted its stake in shares of Cadence Bank by 239.6% in the 4th quarter. UBS Group AG now owns 250,433 shares of the company’s stock valued at $7,410,000 after acquiring an additional 176,681 shares during the last quarter. Corient Private Wealth LLC raised its position in Cadence Bank by 18.2% in the fourth quarter. Corient Private Wealth LLC now owns 23,394 shares of the company’s stock valued at $692,000 after purchasing an additional 3,598 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in Cadence Bank in the 4th quarter valued at approximately $1,019,000. 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.