Cadence Bank (NYSE:CADE) Price Target Increased to $29.00 by Analysts at Barclays

Cadence Bank (NYSE:CADE) had its target price increased by Barclays from $28.00 to $29.00 in a report issued on Wednesday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other equities research analysts also recently commented on CADE. Royal Bank of Canada reiterated a sector perform rating and set a $31.00 price objective on shares of Cadence Bank in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods increased their price objective on Cadence Bank from $32.00 to $33.00 and gave the company an outperform rating in a research report on Wednesday. DA Davidson reiterated a buy rating on shares of Cadence Bank in a research report on Monday, January 15th. Truist Financial increased their price objective on Cadence Bank from $32.00 to $33.00 and gave the company a buy rating in a research report on Monday, April 1st. Finally, Morgan Stanley increased their price objective on Cadence Bank from $24.00 to $27.00 and gave the company an equal weight rating in a research report on Wednesday, February 7th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $31.09.

Cadence Bank Stock Performance

Shares of NYSE CADE opened at $29.37 on Wednesday. The stock has a fifty day moving average price of $27.68 and a two-hundred day moving average price of $26.53. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market cap of $5.36 billion, a P/E ratio of 9.38 and a beta of 1.02. Cadence Bank has a 1 year low of $16.95 and a 1 year high of $31.45.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $437.69 million during the quarter, compared to analyst estimates of $427.18 million. Cadence Bank had a return on equity of 9.22% and a net margin of 23.83%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the company posted $0.68 EPS. Research analysts forecast that Cadence Bank will post 2.38 EPS for the current fiscal year.

Institutional Trading of Cadence Bank

A number of hedge funds have recently modified their holdings of CADE. Fifth Third Bancorp lifted its holdings in shares of Cadence Bank by 165.8% in the third quarter. Fifth Third Bancorp now owns 1,451 shares of the company’s stock valued at $31,000 after purchasing an additional 905 shares in the last quarter. Wolverine Asset Management LLC raised its holdings in shares of Cadence Bank by 952.0% during the fourth quarter. Wolverine Asset Management LLC now owns 1,052 shares of the company’s stock worth $31,000 after acquiring an additional 952 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of Cadence Bank during the first quarter worth $34,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Cadence Bank by 8.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,697 shares of the company’s stock worth $142,000 after acquiring an additional 524 shares in the last quarter. Finally, Hardy Reed LLC purchased a new stake in shares of Cadence Bank during the third quarter worth $203,000. Hedge funds and other 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.