Keefe, Bruyette & Woods Raises Cadence Bank (NYSE:CADE) Price Target to $33.00

Cadence Bank (NYSE:CADE) had its price target hoisted by Keefe, Bruyette & Woods from $32.00 to $33.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 13.56% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Cadence Bank from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. TheStreet downgraded shares of Cadence Bank from a “b” rating to a “c” rating in a research report on Tuesday, January 30th. Raymond James decreased their price target on shares of Cadence Bank from $35.00 to $34.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 31st. Citigroup raised their price target on shares of Cadence Bank from $27.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, December 29th. Finally, DA Davidson restated a “buy” rating on shares of Cadence Bank in a report on Monday, January 15th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.09.

Cadence Bank Stock Performance

Cadence Bank stock opened at $29.06 on Wednesday. The firm’s 50 day simple moving average is $27.71 and its 200-day simple moving average is $26.55. The company has a market cap of $5.31 billion, a P/E ratio of 9.28 and a beta of 1.02. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. 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 released its earnings results on Tuesday, April 23rd. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. The business had revenue of $437.69 million for the quarter, compared to the consensus estimate of $427.18 million. Cadence Bank had a net margin of 23.83% and a return on equity of 8.97%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. As a group, equities research analysts predict that Cadence Bank will post 2.39 EPS for the current year.

Institutional Trading of Cadence Bank

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its stake in shares of Cadence Bank by 109.1% in the third quarter. SG Americas Securities LLC now owns 82,899 shares of the company’s stock worth $1,759,000 after buying an additional 43,252 shares during the last quarter. Sheets Smith Wealth Management lifted its stake in shares of Cadence Bank by 3.8% in the third quarter. Sheets Smith Wealth Management now owns 16,256 shares of the company’s stock worth $345,000 after buying an additional 589 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Cadence Bank by 19.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,966 shares of the company’s stock worth $806,000 after acquiring an additional 6,259 shares during the period. Strs Ohio increased its position in Cadence Bank by 12.1% during the third quarter. Strs Ohio now owns 15,700 shares of the company’s stock worth $333,000 after acquiring an additional 1,700 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Cadence Bank by 8.5% during the third 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 during the period. 84.61% of the stock is currently 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.