Cadence Bank (NYSE:CADE) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Cadence Bank (NYSE:CADE) have received a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $37.32.

A number of analysts recently issued reports on the company. Barclays raised Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $41.00 to $44.00 in a research report on Thursday, December 19th. DA Davidson boosted their price target on Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada increased their price objective on Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Morgan Stanley upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $36.00 to $39.00 in a report on Monday, September 30th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new position in shares of Cadence Bank in the third quarter valued at approximately $25,000. Point72 Hong Kong Ltd bought a new position in Cadence Bank during the 3rd quarter worth $32,000. GAMMA Investing LLC increased its position in Cadence Bank by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,561 shares of the company’s stock worth $50,000 after buying an additional 559 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of Cadence Bank by 23.0% during the third quarter. TD Private Client Wealth LLC now owns 4,954 shares of the company’s stock worth $158,000 after buying an additional 926 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Cadence Bank by 11.5% in the third quarter. KBC Group NV now owns 5,036 shares of the company’s stock valued at $160,000 after acquiring an additional 519 shares during the period. 84.61% of the stock is owned by institutional investors.

Cadence Bank Price Performance

Shares of CADE opened at $34.45 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. Cadence Bank has a twelve month low of $24.99 and a twelve month high of $40.20. The stock has a market capitalization of $6.28 billion, a P/E ratio of 9.90 and a beta of 0.98. The company has a 50 day moving average of $36.24 and a 200-day moving average of $32.65.

Cadence Bank (NYSE:CADE) last released its earnings results on Monday, October 21st. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.09. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. The business had revenue of $447.36 million during the quarter, compared to the consensus estimate of $450.97 million. During the same quarter last year, the firm earned $0.56 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, equities research analysts forecast that Cadence Bank will post 2.71 EPS for the current fiscal year.

Cadence Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, December 13th. Cadence Bank’s payout ratio is 28.74%.

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.