Cadence Bank (NYSE:CADE) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Cadence Bank (NYSE:CADE) have earned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the stock, MarketBeat reports. Five equities research 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 company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $35.29.

CADE has been the topic of a number of recent analyst reports. DA Davidson lifted their target price on Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday. Stephens reiterated an “overweight” rating and issued a $35.00 target price on shares of Cadence Bank in a research report on Tuesday, July 23rd. Barclays lifted their target price on Cadence Bank from $35.00 to $37.00 and gave the company an “equal weight” rating in a research report on Wednesday. Piper Sandler cut Cadence Bank from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $33.00 to $34.00 in a research report on Wednesday, July 24th. Finally, Hovde Group lifted their price target on Cadence Bank from $33.00 to $36.50 and gave the company an “outperform” rating in a research note on Wednesday, July 24th.

Cadence Bank Stock Up 0.2 %

CADE opened at $33.90 on Friday. Cadence Bank has a fifty-two week low of $19.94 and a fifty-two week high of $34.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $6.18 billion, a P/E ratio of 10.83 and a beta of 0.96. The stock has a fifty day moving average of $31.78 and a 200-day moving average of $29.94.

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

Hedge Funds Weigh In On Cadence Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in CADE. Vanguard Group Inc. lifted its stake in Cadence Bank by 4.9% in the first quarter. Vanguard Group Inc. now owns 20,271,283 shares of the company’s stock valued at $587,867,000 after buying an additional 940,895 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of Cadence Bank by 32.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 68,892 shares of the company’s stock valued at $1,998,000 after acquiring an additional 16,850 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of Cadence Bank during the first quarter valued at approximately $716,000. Blue Trust Inc. increased its holdings in shares of Cadence Bank by 456.6% during the second quarter. Blue Trust Inc. now owns 21,667 shares of the company’s stock valued at $628,000 after acquiring an additional 17,774 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of Cadence Bank by 14.8% during the first 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 in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

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.