Cadence Bank (NYSE:CADE) Given New $29.00 Price Target at Jefferies Financial Group

Cadence Bank (NYSE:CADE) had its target price reduced by equities research analysts at Jefferies Financial Group from $31.00 to $29.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s price objective points to a potential upside of 1.68% from the company’s current price.

A number of other analysts have also weighed in on the stock. Keefe, Bruyette & Woods increased their target price on shares of Cadence Bank from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Hovde Group upgraded shares of Cadence Bank from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $32.50 to $33.00 in a report on Wednesday, April 24th. Stephens reiterated an “overweight” rating and set a $33.00 target price on shares of Cadence Bank in a report on Tuesday, April 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $31.00 target price on shares of Cadence Bank in a report on Tuesday, April 9th. Finally, Barclays increased their target price on shares of Cadence Bank from $29.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, June 24th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.18.

Cadence Bank Trading Down 0.3 %

NYSE CADE traded down $0.09 during trading on Wednesday, hitting $28.52. 98,962 shares of the company’s stock traded hands, compared to its average volume of 1,304,612. The stock has a fifty day moving average of $28.37 and a two-hundred day moving average of $28.13. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. Cadence Bank has a 12-month low of $19.00 and a 12-month high of $31.45. The firm has a market cap of $5.20 billion, a P/E ratio of 9.11 and a beta of 0.98.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data on Friday, April 26th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. The firm had revenue of $437.69 million during the quarter, compared to the consensus estimate of $427.18 million. Cadence Bank had a net margin of 23.83% and a return on equity of 8.97%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 earnings per share. As a group, sell-side analysts expect that Cadence Bank will post 2.48 EPS for the current year.

Institutional Investors Weigh In On Cadence Bank

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Cadence Bank by 77.0% during the second quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock valued at $28,000 after acquiring an additional 436 shares in the last quarter. Wolverine Asset Management LLC increased its position 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 valued at $31,000 after acquiring an additional 952 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of Cadence Bank during the first quarter valued at approximately $34,000. Argent Advisors Inc. bought a new stake in shares of Cadence Bank during the first quarter valued at approximately $204,000. Finally, Moody Lynn & Lieberson LLC bought a new stake in Cadence Bank in the 4th quarter worth approximately $205,000. Institutional investors own 84.61% of the company’s stock.

About Cadence Bank

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.