Cadence Bank (NYSE:CADE) Given Consensus Recommendation of “Buy” by Analysts

Shares of Cadence Bank (NYSE:CADEGet Rating) have been given a consensus rating of “Buy” by the six brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $37.50.

Several research analysts have issued reports on the company. Zacks Investment Research lowered Cadence Bank from a “buy” rating to a “hold” rating in a report on Thursday, April 28th. TheStreet lowered Cadence Bank from a “b” rating to a “c+” rating in a report on Wednesday, April 13th. Finally, Raymond James increased their price objective on Cadence Bank from $36.00 to $40.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 27th.

Several institutional investors and hedge funds have recently modified their holdings of CADE. Rockefeller Capital Management L.P. increased its position in Cadence Bank by 1.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 23,047 shares of the company’s stock worth $686,000 after buying an additional 431 shares during the last quarter. Citadel Advisors LLC increased its position in Cadence Bank by 3.3% in the third quarter. Citadel Advisors LLC now owns 25,206 shares of the company’s stock worth $554,000 after buying an additional 806 shares during the last quarter. Covestor Ltd purchased a new stake in Cadence Bank in the fourth quarter worth $25,000. Founders Capital Management purchased a new stake in Cadence Bank in the fourth quarter worth $30,000. Finally, Strs Ohio increased its position in Cadence Bank by 4.7% in the first quarter. Strs Ohio now owns 22,100 shares of the company’s stock worth $646,000 after buying an additional 1,000 shares during the last quarter. 71.03% of the stock is owned by institutional investors.

Shares of CADE stock traded up $0.21 on Tuesday, hitting $25.82. The company had a trading volume of 4,114 shares, compared to its average volume of 1,412,660. Cadence Bank has a twelve month low of $24.77 and a twelve month high of $34.24. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.69 and a current ratio of 0.69. The stock’s 50-day moving average is $28.17 and its two-hundred day moving average is $29.71. The firm has a market cap of $2.80 billion, a P/E ratio of 15.10 and a beta of 1.05.

Cadence Bank (NYSE:CADEGet Rating) last announced its earnings results on Monday, April 25th. The company reported $0.60 EPS for the quarter, meeting the consensus estimate of $0.60. Cadence Bank had a return on equity of 10.63% and a net margin of 15.87%. The company had revenue of $440.26 million for the quarter, compared to analyst estimates of $427.57 million. During the same quarter in the prior year, the company earned $0.73 EPS. Equities research analysts predict that Cadence Bank will post 2.77 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Wednesday, June 15th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Tuesday, June 14th. Cadence Bank’s payout ratio is 51.16%.

Cadence Bank Company Profile (Get Rating)

Cadence Bank provides commercial banking and financial services in the United States. 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.

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