Cadence Bank (NYSE:CADE) PT Raised to $33.00

Cadence Bank (NYSE:CADE) had its price target boosted by Keefe, Bruyette & Woods from $32.00 to $33.00 in a research report released on Wednesday, Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the stock. DA Davidson restated a buy rating on shares of Cadence Bank in a report on Monday, January 15th. Citigroup lifted their price objective on shares of Cadence Bank from $27.00 to $32.00 and gave the company a neutral rating in a report on Friday, December 29th. TheStreet cut shares of Cadence Bank from a b rating to a c rating in a report on Tuesday, January 30th. Stephens reiterated an overweight rating and set a $33.00 price objective on shares of Cadence Bank in a report on Tuesday. Finally, Barclays assumed coverage on shares of Cadence Bank in a report on Friday, March 8th. They set an equal weight rating and a $28.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $31.09.

Cadence Bank Trading Up 1.7 %

NYSE:CADE opened at $29.37 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 9.38 and a beta of 1.02. The firm has a fifty day simple moving average of $27.68 and a two-hundred day simple moving average of $26.53. Cadence Bank has a 12 month low of $16.95 and a 12 month high of $31.45.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Fifth Third Bancorp lifted its position in shares of Cadence Bank by 165.8% during 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 position in Cadence Bank by 952.0% in 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 during the period. Rise Advisors LLC bought a new stake in Cadence Bank in the first quarter worth about $34,000. Allspring Global Investments Holdings LLC raised its position in Cadence Bank by 8.5% in 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 during the period. Finally, Hardy Reed LLC bought a new stake in Cadence Bank in the third quarter worth about $203,000. 84.61% of the stock is owned by institutional investors.

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.