Cadence Bank’s (CADE) Overweight Rating Reaffirmed at Stephens

Cadence Bank (NYSE:CADE)‘s stock had its “overweight” rating restated by analysts at Stephens in a research note issued to investors on Thursday,Benzinga reports. They currently have a $42.00 target price on the stock. Stephens’ target price suggests a potential upside of 21.19% from the company’s previous close.

CADE has been the topic of a number of other reports. Royal Bank of Canada raised their price objective on Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. DA Davidson lifted their target price on shares of Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their price target on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Morgan Stanley upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $36.00 to $39.00 in a research report on Monday, September 30th. Finally, Truist Financial raised their price target on Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Cadence Bank presently has a consensus rating of “Moderate Buy” and an average price target of $37.95.

Cadence Bank Price Performance

CADE stock traded down $1.26 on Thursday, hitting $34.66. 319,934 shares of the company’s stock traded hands, compared to its average volume of 1,191,167. Cadence Bank has a 1-year low of $24.99 and a 1-year high of $40.20. The stock has a fifty day moving average of $36.11 and a 200-day moving average of $33.46. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 9.96 and a beta of 1.00. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. During the same period last year, the business posted $0.40 earnings per share. On average, analysts forecast that Cadence Bank will post 2.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Cadence Bank

Several large investors have recently made changes to their positions in CADE. V Square Quantitative Management LLC bought a new stake in Cadence Bank during the third quarter worth $25,000. Brooklyn Investment Group bought a new stake in Cadence Bank in the 4th quarter valued at about $26,000. Point72 Hong Kong Ltd bought a new position in shares of Cadence Bank during the third quarter worth approximately $32,000. GAMMA Investing LLC raised its position in shares of Cadence Bank by 55.8% in the third quarter. GAMMA Investing LLC now owns 1,561 shares of the company’s stock valued at $50,000 after buying an additional 559 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in shares of Cadence Bank by 23.0% in the third quarter. TD Private Client Wealth LLC now owns 4,954 shares of the company’s stock valued at $158,000 after buying an additional 926 shares during the period. 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.