Cadence Bank (NYSE:CADE) PT Raised to $37.00

Cadence Bank (NYSE:CADE) had its target price upped by stock analysts at Barclays from $35.00 to $37.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 9.14% from the company’s current price.

A number of other research firms have also issued reports on CADE. Truist Financial reduced their price target on Cadence Bank from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Morgan Stanley raised Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $36.00 to $39.00 in a research report on Monday, September 30th. DA Davidson increased their price objective on Cadence Bank from $34.50 to $39.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Piper Sandler cut Cadence Bank from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $33.00 to $34.00 in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group lowered their price target on Cadence Bank from $31.00 to $29.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.29.

Cadence Bank Price Performance

CADE stock opened at $33.90 on Wednesday. The business’s fifty day moving average price is $31.78 and its 200 day moving average price is $29.94. Cadence Bank has a 12-month low of $19.94 and a 12-month high of $34.25. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $6.18 billion, a PE ratio of 10.83 and a beta of 0.96.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings results on Monday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.09. Cadence Bank had a net margin of 24.42% and a return on equity of 8.82%. The company had revenue of $447.36 million for the quarter, compared to analyst estimates of $450.97 million. During the same period in the prior year, the firm earned $0.56 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Cadence Bank will post 2.57 EPS for the current year.

Institutional Trading of Cadence Bank

Institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its holdings in shares of Cadence Bank by 19.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,488 shares of the company’s stock valued at $429,000 after buying an additional 2,376 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Cadence Bank by 14.8% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,759,818 shares of the company’s stock valued at $51,034,000 after acquiring an additional 227,395 shares during the last quarter. State of Michigan Retirement System grew its stake in shares of Cadence Bank by 2.3% in the 1st quarter. State of Michigan Retirement System now owns 44,810 shares of the company’s stock valued at $1,299,000 after purchasing an additional 1,000 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Cadence Bank by 5.4% in the first quarter. Principal Financial Group Inc. now owns 826,476 shares of the company’s stock valued at $23,968,000 after purchasing an additional 42,267 shares during the period. Finally, Retirement Systems of Alabama increased its holdings in shares of Cadence Bank by 0.3% in the first quarter. Retirement Systems of Alabama now owns 229,380 shares of the company’s stock valued at $6,652,000 after purchasing an additional 602 shares during the period. Hedge funds and other institutional investors 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.