Cadence Bank (NYSE:CADE) Receives $31.09 Consensus PT from Analysts

Cadence Bank (NYSE:CADE) has been given an average recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $31.09.

CADE has been the topic of several recent analyst reports. DA Davidson reiterated a “buy” rating on shares of Cadence Bank in a report on Monday, January 15th. Jefferies Financial Group cut their price objective on Cadence Bank from $30.00 to $29.00 and set a “hold” rating for the company in a research report on Monday, April 8th. Keefe, Bruyette & Woods upped their target price on shares of Cadence Bank from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $31.00 price target on shares of Cadence Bank in a report on Tuesday, April 9th. Finally, TheStreet cut Cadence Bank from a “b” rating to a “c” rating in a report on Tuesday, January 30th.

Institutional Trading of Cadence Bank

A number of hedge funds have recently modified their holdings of the stock. Barclays PLC raised its position in shares of Cadence Bank by 30.7% in the third quarter. Barclays PLC now owns 528,407 shares of the company’s stock valued at $11,212,000 after buying an additional 124,084 shares in the last quarter. Comerica Bank acquired a new position in Cadence Bank in the 3rd quarter valued at $5,177,000. American Century Companies Inc. lifted its position in shares of Cadence Bank by 35.7% during the 3rd quarter. American Century Companies Inc. now owns 1,258,097 shares of the company’s stock valued at $26,697,000 after acquiring an additional 331,097 shares during the period. Wellington Management Group LLP lifted its position in shares of Cadence Bank by 15.7% during the 3rd quarter. Wellington Management Group LLP now owns 7,827,982 shares of the company’s stock valued at $166,110,000 after acquiring an additional 1,063,055 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in shares of Cadence Bank by 81.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,532,423 shares of the company’s stock worth $45,344,000 after purchasing an additional 687,025 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Price Performance

Shares of NYSE:CADE opened at $27.67 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $5.05 billion, a P/E ratio of 8.84 and a beta of 1.02. The business has a 50-day moving average of $27.75 and a two-hundred day moving average of $26.73. Cadence Bank has a fifty-two week low of $16.95 and a fifty-two week high of $31.45.

Cadence Bank (NYSE:CADE) last announced its earnings results on Friday, April 26th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Cadence Bank had a return on equity of 8.97% and a net margin of 23.83%. The firm had revenue of $437.69 million during the quarter, compared to analysts’ expectations of $427.18 million. During the same quarter in the prior year, the business earned $0.68 earnings per share. The company’s revenue was up 12.6% on a year-over-year basis. On average, equities research analysts predict that Cadence Bank will post 2.48 EPS for the current fiscal year.

Cadence Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, June 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.61%. Cadence Bank’s dividend payout ratio is currently 31.95%.

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.