Cadence Bank’s (CADE) “Overweight” Rating Reiterated at Stephens

Cadence Bank (NYSE:CADE)‘s stock had its “overweight” rating reissued by investment analysts at Stephens in a report issued on Thursday,Benzinga reports. They currently have a $42.00 price objective on the stock. Stephens’ price target would indicate a potential upside of 21.19% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $41.00 to $44.00 in a research report on Thursday, December 19th. Royal Bank of Canada lifted their target price on Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods lifted their price objective on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Morgan Stanley upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $36.00 to $39.00 in a research report on Monday, September 30th. Finally, Truist Financial increased their price target on Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.95.

Cadence Bank Price Performance

NYSE CADE traded down $1.26 on Thursday, hitting $34.66. 319,934 shares of the company’s stock were exchanged, compared to its average volume of 1,191,167. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. Cadence Bank has a 52 week low of $24.99 and a 52 week high of $40.20. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 9.96 and a beta of 1.00. The stock has a 50-day moving average of $36.11 and a 200-day moving average of $33.46.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. During the same quarter last year, the company posted $0.40 EPS. Analysts expect that Cadence Bank will post 2.71 earnings per share for the current year.

Institutional Trading of Cadence Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of CADE. GAMMA Investing LLC grew its position in shares of Cadence Bank by 19.3% during the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock valued at $64,000 after purchasing an additional 301 shares in the last quarter. KBC Group NV grew its position in Cadence Bank by 11.5% during the third quarter. KBC Group NV now owns 5,036 shares of the company’s stock worth $160,000 after buying an additional 519 shares in the last quarter. Algert Global LLC boosted its position in shares of Cadence Bank by 2.8% during the 3rd quarter. Algert Global LLC now owns 18,920 shares of the company’s stock valued at $603,000 after acquiring an additional 522 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Cadence Bank by 1.4% in the third quarter. HighTower Advisors LLC now owns 43,940 shares of the company’s stock worth $1,406,000 after purchasing an additional 599 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC raised its position in shares of Cadence Bank by 3.5% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 20,970 shares of the company’s stock valued at $722,000 after buying an additional 715 shares in the last quarter. 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.