Cadence Bank (NYSE:CADE) Receives $40.40 Consensus Target Price from Analysts

Cadence Bank (NYSE:CADE) has been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $40.40.

Several brokerages have recently weighed in on CADE. Keefe, Bruyette & Woods upped their target price on Cadence Bank from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, July 28th. Piper Sandler upped their price target on Cadence Bank from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Wall Street Zen downgraded shares of Cadence Bank from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. DA Davidson boosted their target price on shares of Cadence Bank from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Finally, Zacks Research downgraded shares of Cadence Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday.

Cadence Bank Stock Performance

Shares of CADE stock opened at $37.23 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.25. The company has a market cap of $6.78 billion, a PE ratio of 13.25 and a beta of 0.91. The company’s fifty day simple moving average is $35.77 and its 200-day simple moving average is $32.14. Cadence Bank has a 52 week low of $25.22 and a 52 week high of $40.20.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.04. Cadence Bank had a return on equity of 9.84% and a net margin of 18.79%.The firm had revenue of $476.32 million during the quarter, compared to the consensus estimate of $467.60 million. During the same period in the prior year, the firm earned $0.73 EPS. As a group, equities research analysts anticipate that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, September 15th. Cadence Bank’s dividend payout ratio is presently 39.15%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in Cadence Bank by 7.8% during the 1st quarter. Wellington Management Group LLP now owns 13,481,585 shares of the company’s stock valued at $409,301,000 after acquiring an additional 980,369 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Cadence Bank by 0.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,520,057 shares of the company’s stock valued at $167,589,000 after purchasing an additional 32,362 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Cadence Bank by 2.5% during the second quarter. Geode Capital Management LLC now owns 4,664,361 shares of the company’s stock worth $149,182,000 after purchasing an additional 113,593 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in Cadence Bank by 5.7% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,619,544 shares of the company’s stock worth $109,889,000 after purchasing an additional 193,582 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its stake in Cadence Bank by 19.9% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,896,820 shares of the company’s stock worth $92,640,000 after purchasing an additional 480,622 shares in the last quarter. Institutional investors and hedge funds 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.