Cadence Bank (NYSE:CADE) Price Target Increased to $37.00 by Analysts at Barclays

Cadence Bank (NYSE:CADE) had its price objective raised by Barclays from $35.00 to $37.00 in a research note released on Wednesday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other brokerages also recently weighed in on CADE. Piper Sandler downgraded shares of Cadence Bank from an “overweight” rating to a “neutral” rating and raised their target price for the company from $33.00 to $34.00 in a research note on Wednesday, July 24th. Royal Bank of Canada boosted their target price on Cadence Bank from $31.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. Morgan Stanley raised Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $36.00 to $39.00 in a research report on Monday, September 30th. DA Davidson raised their price target on Cadence Bank from $34.50 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Stephens restated an “overweight” rating and set a $35.00 price objective on shares of Cadence Bank in a report on Tuesday, July 23rd. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.29.

Cadence Bank Trading Down 0.5 %

Shares of NYSE CADE opened at $33.82 on Wednesday. Cadence Bank has a 1-year low of $19.94 and a 1-year high of $34.25. The business has a fifty day moving average price of $31.71 and a 200 day moving average price of $29.91. The stock has a market capitalization of $6.16 billion, a P/E ratio of 10.81 and a beta of 0.96. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.86 and a quick ratio of 0.86.

Cadence Bank (NYSE:CADE) last released its quarterly earnings results on Monday, October 21st. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.64 by $0.09. Cadence Bank had a net margin of 24.42% and a return on equity of 8.82%. The business had revenue of $447.36 million during the quarter, compared to analyst estimates of $450.97 million. During the same period in the prior year, the firm posted $0.56 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. Equities research analysts expect that Cadence Bank will post 2.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Cadence Bank by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 20,271,283 shares of the company’s stock valued at $587,867,000 after buying an additional 940,895 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Cadence Bank by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,825,909 shares of the company’s stock valued at $277,874,000 after acquiring an additional 593,878 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Cadence Bank by 14.8% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,759,818 shares of the company’s stock valued at $51,034,000 after acquiring an additional 227,395 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Cadence Bank in the third quarter valued at approximately $5,511,000. Finally, Moody Aldrich Partners LLC boosted its position in Cadence Bank by 28.6% in the 3rd quarter. Moody Aldrich Partners LLC now owns 294,932 shares of the company’s stock worth $9,394,000 after purchasing an additional 65,595 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.