Barclays Boosts Cadence Bank (NYSE:CADE) Price Target to $29.00

Cadence Bank (NYSE:CADE) had its target price increased by research analysts at Barclays from $28.00 to $29.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential downside of 0.21% from the company’s current price.

A number of other brokerages have also commented on CADE. Morgan Stanley upped their price target on shares of Cadence Bank from $24.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $31.00 price target on shares of Cadence Bank in a research note on Tuesday, April 9th. Truist Financial upped their price target on shares of Cadence Bank from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, April 1st. 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 research report on Wednesday. Finally, Citigroup increased their target price on shares of Cadence Bank from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, December 29th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.09.

Cadence Bank Stock Down 1.1 %

Shares of CADE stock opened at $29.06 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The firm’s 50-day moving average is $27.71 and its 200-day moving average is $26.55. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 9.28 and a beta of 1.02. Cadence Bank has a 52-week low of $16.95 and a 52-week high of $31.45.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. Cadence Bank had a net margin of 23.83% and a return on equity of 8.97%. The business had revenue of $437.69 million for the quarter, compared to analyst estimates of $427.18 million. During the same quarter in the prior year, the business earned $0.68 EPS. Cadence Bank’s quarterly revenue was up 12.6% on a year-over-year basis. Sell-side analysts predict that Cadence Bank will post 2.39 EPS for the current year.

Institutional Trading of Cadence Bank

Large investors have recently made changes to their positions in the company. Fifth Third Bancorp boosted its position in shares of Cadence Bank by 165.8% during the 3rd quarter. Fifth Third Bancorp now owns 1,451 shares of the company’s stock worth $31,000 after acquiring an additional 905 shares in the last quarter. Wolverine Asset Management LLC boosted its position in shares of Cadence Bank by 952.0% during the 4th quarter. Wolverine Asset Management LLC now owns 1,052 shares of the company’s stock worth $31,000 after acquiring an additional 952 shares in the last quarter. Rise Advisors LLC acquired a new stake in shares of Cadence Bank during the 1st quarter worth approximately $34,000. Allspring Global Investments Holdings LLC boosted its position in shares of Cadence Bank by 8.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,697 shares of the company’s stock worth $142,000 after acquiring an additional 524 shares in the last quarter. Finally, Hardy Reed LLC acquired a new stake in shares of Cadence Bank during the 3rd quarter worth approximately $203,000. 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.