Cadence Bank (NYSE:CADE) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Cadence Bank (NYSE:CADE) have received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $34.54.

A number of equities analysts have issued reports on the company. Truist Financial increased their price target on Cadence Bank from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Stephens restated an “overweight” rating and issued a $35.00 target price on shares of Cadence Bank in a research report on Tuesday, July 23rd. Barclays raised their target price on Cadence Bank from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Jefferies Financial Group decreased their target price on Cadence Bank from $31.00 to $29.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Finally, Hovde Group lifted their price objective on Cadence Bank from $33.00 to $36.50 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th.

Cadence Bank Stock Up 3.5 %

Shares of CADE stock opened at $29.70 on Friday. The stock’s 50-day simple moving average is $29.39 and its 200-day simple moving average is $28.44. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $5.41 billion, a PE ratio of 9.49 and a beta of 0.98. Cadence Bank has a fifty-two week low of $19.67 and a fifty-two week high of $34.13.

Cadence Bank (NYSE:CADE) last posted its earnings results on Monday, July 22nd. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.61 by $0.08. The firm had revenue of $742.87 million for the quarter, compared to analyst estimates of $439.63 million. Cadence Bank had a return on equity of 8.82% and a net margin of 24.42%. During the same period last year, the company earned $0.64 earnings per share. Equities analysts expect that Cadence Bank will post 2.54 earnings per share for the current year.

Cadence Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.37%. The ex-dividend date is Friday, September 13th. Cadence Bank’s payout ratio is 31.95%.

Institutional Investors Weigh In On Cadence Bank

A number of institutional investors and hedge funds have recently modified their holdings of CADE. Park Place Capital Corp lifted its stake in shares of Cadence Bank by 39.0% during the 4th quarter. Park Place Capital Corp now owns 7,989 shares of the company’s stock worth $236,000 after purchasing an additional 2,242 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Cadence Bank by 50.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 124,197 shares of the company’s stock valued at $3,675,000 after purchasing an additional 41,533 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Cadence Bank by 81.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,532,423 shares of the company’s stock valued at $45,344,000 after purchasing an additional 687,025 shares in the last quarter. RFG Advisory LLC acquired a new stake in Cadence Bank in the 4th quarter valued at $264,000. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Cadence Bank during the fourth quarter valued at about $1,518,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

About Cadence Bank

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.