Cadence Bank (NYSE:CADE – Get Free Report) had its price target boosted by equities research analysts at Citigroup from $37.00 to $38.00 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 8.06% from the stock’s previous close.
Several other research firms have also commented on CADE. Truist Financial increased their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $38.00 price objective on shares of Cadence Bank in a research note on Friday, January 24th. Keefe, Bruyette & Woods boosted their target price on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Morgan Stanley upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $36.00 to $39.00 in a research report on Monday, September 30th. Finally, Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $41.00 to $44.00 in a research note on Thursday, December 19th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cadence Bank has an average rating of “Moderate Buy” and an average target price of $38.13.
Check Out Our Latest Stock Report on CADE
Cadence Bank Stock Down 0.9 %
Cadence Bank (NYSE:CADE – Get Free Report) last posted its earnings results 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 return on equity of 9.98% and a net margin of 18.03%. During the same period in the prior year, the company earned $0.40 EPS. Analysts predict that Cadence Bank will post 2.87 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of CADE. Geode Capital Management LLC grew its position in shares of Cadence Bank by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company’s stock worth $138,974,000 after buying an additional 39,679 shares in the last quarter. Cerity Partners LLC grew its holdings in Cadence Bank by 31.2% during the 3rd quarter. Cerity Partners LLC now owns 64,377 shares of the company’s stock worth $2,050,000 after acquiring an additional 15,312 shares in the last quarter. Stifel Financial Corp increased its position in Cadence Bank by 18.1% during the 3rd quarter. Stifel Financial Corp now owns 21,034 shares of the company’s stock valued at $670,000 after purchasing an additional 3,218 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in Cadence Bank by 16.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock valued at $66,360,000 after purchasing an additional 291,885 shares during the period. Finally, Franklin Resources Inc. bought a new stake in shares of Cadence Bank in the 3rd quarter valued at about $947,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.
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.
See Also
- Five stocks we like better than Cadence Bank
- How to Start Investing in Real Estate
- Survey Reveals: Top 150 Best Coffee Shops for Remote Workers and Business Deals [2025]
- What is an Earnings Surprise?
- What Does the Future Hold for Eli Lilly?
- What is the NASDAQ Stock Exchange?
- Oracle Stock Drops Nearly 14% – Is Now the Time to Buy?
Receive News & Ratings for Cadence Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Bank and related companies with MarketBeat.com's FREE daily email newsletter.