Analysts Set Cadence Bank (NYSE:CADE) PT at $38.77

Cadence Bank (NYSE:CADE) has been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $38.77.

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Citigroup upped their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Stephens reaffirmed an “overweight” rating and issued a $42.00 price target on shares of Cadence Bank in a report on Thursday, January 23rd. Morgan Stanley lowered their price target on shares of Cadence Bank from $46.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $41.00 to $44.00 in a report on Thursday, December 19th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CADE. KBC Group NV raised its position in shares of Cadence Bank by 11.5% during the 3rd quarter. KBC Group NV now owns 5,036 shares of the company’s stock worth $160,000 after purchasing an additional 519 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Cadence Bank by 15.9% during the 3rd quarter. Natixis Advisors LLC now owns 486,122 shares of the company’s stock worth $15,483,000 after purchasing an additional 66,747 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of 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 worth $66,360,000 after purchasing an additional 291,885 shares during the last quarter. Atlanta Consulting Group Advisors LLC acquired a new position in shares of Cadence Bank during the 3rd quarter worth about $220,000. Finally, MAI Capital Management raised its position in shares of Cadence Bank by 132.9% during the 3rd quarter. MAI Capital Management now owns 41,685 shares of the company’s stock worth $1,328,000 after purchasing an additional 23,790 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Cadence Bank Trading Up 1.3 %

NYSE CADE opened at $30.66 on Monday. The firm’s fifty day simple moving average is $33.51 and its two-hundred day simple moving average is $34.04. Cadence Bank has a 12-month low of $26.16 and a 12-month high of $40.20. The firm has a market capitalization of $5.59 billion, a P/E ratio of 11.07 and a beta of 0.96.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. During the same quarter last year, the firm earned $0.40 EPS. As a group, sell-side analysts predict that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Friday, March 14th. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s dividend payout ratio is 39.71%.

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.