Cadence Bank (NYSE:CADE) Receives “Overweight” Rating from Stephens

Stephens reiterated their overweight rating on shares of Cadence Bank (NYSE:CADE) in a report issued on Tuesday, Benzinga reports. The brokerage currently has a $33.00 target price on the stock.

Other research analysts also recently issued research reports about the company. Raymond James reduced their price target on Cadence Bank from $35.00 to $34.00 and set a strong-buy rating for the company in a report on Wednesday, January 31st. Barclays began coverage on Cadence Bank in a report on Friday, March 8th. They set an equal weight rating and a $28.00 target price on the stock. Jefferies Financial Group reduced their target price on Cadence Bank from $30.00 to $29.00 and set a hold rating on the stock in a report on Monday, April 8th. Truist Financial increased their target price on Cadence Bank from $32.00 to $33.00 and gave the stock a buy rating in a report on Monday, April 1st. Finally, Morgan Stanley increased their target price on Cadence Bank from $24.00 to $27.00 and gave the stock an equal weight rating in a report on Wednesday, February 7th. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cadence Bank has a consensus rating of Moderate Buy and a consensus target price of $30.75.

Cadence Bank Trading Up 4.2 %

Shares of CADE opened at $28.90 on Tuesday. The company has a market capitalization of $5.28 billion, a P/E ratio of 9.93 and a beta of 1.02. Cadence Bank has a one year low of $16.95 and a one year high of $31.45. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a 50-day moving average price of $27.62 and a 200 day moving average price of $26.51.

Cadence Bank (NYSE:CADE) last issued 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. The firm had revenue of $437.69 million during the quarter, compared to the consensus estimate of $427.18 million. Cadence Bank had a return on equity of 9.55% and a net margin of 23.33%. Cadence Bank’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.68 earnings per share. Sell-side analysts forecast that Cadence Bank will post 2.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Cadence Bank

Hedge funds have recently modified their holdings of the company. Barclays PLC increased its position in shares of Cadence Bank by 30.7% during the 3rd quarter. Barclays PLC now owns 528,407 shares of the company’s stock valued at $11,212,000 after purchasing an additional 124,084 shares during the period. Comerica Bank bought a new stake in shares of Cadence Bank during the 3rd quarter worth $5,177,000. American Century Companies Inc. boosted its stake 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 worth $26,697,000 after acquiring an additional 331,097 shares in the last quarter. Wellington Management Group LLP boosted its stake 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 worth $166,110,000 after acquiring an additional 1,063,055 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake 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 acquiring an additional 687,025 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.