Cadence Bank (NYSE:CADE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Cadence Bank (NYSE:CADE) have been given a consensus rating of “Moderate Buy” by the twelve brokerages that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $31.09.

Several research firms recently weighed in on CADE. Morgan Stanley upped their price target on shares of Cadence Bank from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods increased their target price on Cadence Bank from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday. DA Davidson reaffirmed a “buy” rating on shares of Cadence Bank in a research note on Monday, January 15th. Raymond James dropped their price target on Cadence Bank from $35.00 to $34.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 31st. Finally, Truist Financial raised their price objective on Cadence Bank from $32.00 to $33.00 and gave the company a “buy” rating in a report on Monday, April 1st.

Cadence Bank Stock Down 1.1 %

Cadence Bank stock opened at $29.06 on Friday. Cadence Bank has a 12 month low of $16.95 and a 12 month high of $31.45. The stock has a market capitalization of $5.31 billion, a PE ratio of 9.28 and a beta of 1.02. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50 day simple moving average of $27.71 and a 200-day simple moving average of $26.55.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. The company had revenue of $437.69 million during the quarter, compared to analyst estimates of $427.18 million. Cadence Bank had a net margin of 23.83% and a return on equity of 8.97%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. On average, analysts anticipate that Cadence Bank will post 2.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Cadence Bank

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Cadence Bank by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 19,330,388 shares of the company’s stock valued at $571,986,000 after purchasing an additional 157,523 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Cadence Bank by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,240,127 shares of the company’s stock worth $273,421,000 after acquiring an additional 376,989 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Cadence Bank by 7.3% during the fourth quarter. Wellington Management Group LLP now owns 8,402,615 shares of the company’s stock worth $248,633,000 after acquiring an additional 574,633 shares during the period. Norges Bank acquired a new stake in shares of Cadence Bank in the fourth quarter valued at $60,490,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Cadence Bank by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,017,359 shares of the company’s stock valued at $59,694,000 after acquiring an additional 77,563 shares in the last quarter. 84.61% of the stock is 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.