Cadence Bank (NYSE:CADE) Given Average Recommendation of “Moderate Buy” by Brokerages

Cadence Bank (NYSE:CADE) has received an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $35.29.

A number of analysts recently issued reports on the company. Jefferies Financial Group lowered their target price on Cadence Bank from $31.00 to $29.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Hovde Group raised their price target on shares of Cadence Bank from $33.00 to $36.50 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Royal Bank of Canada raised their price target on shares of Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Truist Financial raised their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Stephens reaffirmed an “overweight” rating and set a $35.00 price target on shares of Cadence Bank in a research note on Tuesday, July 23rd.

Institutional Investors Weigh In On Cadence Bank

Several large investors have recently made changes to their positions in CADE. GAMMA Investing LLC lifted its holdings in Cadence Bank by 77.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock valued at $28,000 after purchasing an additional 436 shares during the last quarter. AlphaMark Advisors LLC lifted its holdings in shares of Cadence Bank by 5.6% during the second quarter. AlphaMark Advisors LLC now owns 10,870 shares of the company’s stock worth $307,000 after buying an additional 579 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Cadence Bank by 0.3% during the first quarter. Retirement Systems of Alabama now owns 229,380 shares of the company’s stock worth $6,652,000 after buying an additional 602 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Cadence Bank by 0.3% during the first quarter. Russell Investments Group Ltd. now owns 230,377 shares of the company’s stock worth $6,681,000 after buying an additional 689 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Cadence Bank during the third quarter worth $25,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Stock Performance

Cadence Bank stock opened at $33.90 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.05. Cadence Bank has a 1 year low of $19.94 and a 1 year high of $34.25. The company has a market cap of $6.18 billion, a PE ratio of 10.83 and a beta of 0.96. The company’s 50-day moving average is $31.78 and its two-hundred day moving average is $29.94.

Cadence Bank (NYSE:CADE) last released its earnings results on Monday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.09. The company had revenue of $447.36 million for the quarter, compared to the consensus estimate of $450.97 million. Cadence Bank had a net margin of 24.42% and a return on equity of 8.82%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.56 EPS. Equities analysts anticipate that Cadence Bank will post 2.57 earnings per share for the current year.

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.