Cadence Bank (NYSE:CADE) Price Target Raised to $30.00 at Barclays

Cadence Bank (NYSE:CADE) had its price target boosted by Barclays from $29.00 to $30.00 in a research note released on Monday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

CADE has been the topic of a number of other research reports. Jefferies Financial Group dropped their price target on Cadence Bank from $30.00 to $29.00 and set a hold rating on the stock in a research report on Monday, April 8th. Hovde Group raised Cadence Bank from a market perform rating to an outperform rating and lifted their target price for the company from $32.50 to $33.00 in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods lifted their target price on Cadence Bank from $32.00 to $33.00 and gave the company an outperform rating in a research report on Wednesday, April 24th. Stephens reissued an overweight rating and issued a $33.00 target price on shares of Cadence Bank in a research report on Tuesday, April 23rd. Finally, Truist Financial lifted their target price on Cadence Bank from $32.00 to $33.00 and gave the company a buy rating in a research report on Monday, April 1st. 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 stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $31.18.

Cadence Bank Trading Up 2.5 %

NYSE CADE opened at $28.21 on Monday. The firm has a market cap of $5.14 billion, a P/E ratio of 9.01 and a beta of 0.99. 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’s 50-day moving average is $28.26 and its 200-day moving average is $28.18. Cadence Bank has a one year low of $18.97 and a one year high of $31.45.

Cadence Bank (NYSE:CADE) last released its quarterly earnings results on Friday, April 26th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $437.69 million for the quarter, compared to analyst estimates of $427.18 million. Cadence Bank had a return on equity of 8.97% and a net margin of 23.83%. Cadence Bank’s revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 earnings per share. Sell-side analysts anticipate that Cadence Bank will post 2.48 earnings per share 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 of this dividend is Friday, June 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.54%. Cadence Bank’s dividend payout ratio is currently 31.95%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wolverine Asset Management LLC boosted its stake 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 during the period. Rise Advisors LLC bought a new stake in Cadence Bank in the 1st quarter valued at $34,000. Moody Lynn & Lieberson LLC bought a new stake in Cadence Bank in the 4th quarter valued at $205,000. Argent Advisors Inc. bought a new stake in Cadence Bank in the 1st quarter valued at $204,000. Finally, Lavaca Capital LLC bought a new stake in Cadence Bank in the 1st quarter valued at $207,000. 84.61% of the stock is currently owned by institutional investors.

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.