Analysts Set Cadence Bank (NYSE:CADE) Target Price at $35.29

Shares of Cadence Bank (NYSE:CADE) have earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $35.29.

Several brokerages recently weighed in on CADE. DA Davidson lifted their price objective on shares of Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Stephens reiterated an “overweight” rating and set a $35.00 price objective on shares of Cadence Bank in a research report on Tuesday, July 23rd. Truist Financial raised their target price on Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada boosted their price target on Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Finally, Hovde Group increased their price target on Cadence Bank from $33.00 to $36.50 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th.

Cadence Bank Stock Down 0.5 %

Shares of Cadence Bank stock opened at $37.52 on Tuesday. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 10.78 and a beta of 0.95. Cadence Bank has a twelve month low of $24.15 and a twelve month high of $39.79. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. The business’s 50 day simple moving average is $33.28 and its 200-day simple moving average is $30.95.

Cadence Bank (NYSE:CADE) last issued its earnings results on Monday, October 21st. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.09. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. The firm had revenue of $447.36 million for the quarter, compared to analyst estimates of $450.97 million. During the same period last year, the company earned $0.56 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts forecast that Cadence Bank will post 2.71 earnings per share for the current year.

Cadence Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 13th. This represents a $1.00 annualized dividend and a dividend yield of 2.67%. Cadence Bank’s dividend payout ratio (DPR) is 28.74%.

Institutional Trading of Cadence Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC acquired a new position in Cadence Bank in the third quarter worth approximately $25,000. GAMMA Investing LLC raised its holdings in Cadence Bank by 77.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock worth $28,000 after buying an additional 436 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Cadence Bank during the third quarter valued at about $32,000. Innealta Capital LLC acquired a new position in shares of Cadence Bank in the second quarter worth about $138,000. Finally, TD Private Client Wealth LLC increased its position in shares of Cadence Bank by 23.0% in the third quarter. TD Private Client Wealth LLC now owns 4,954 shares of the company’s stock worth $158,000 after acquiring an additional 926 shares in the last quarter. 84.61% of the stock is currently 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.