Shares of Cadence Bank (NYSE:CADE – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $31.09.
CADE has been the topic of a number of recent research reports. Stephens reaffirmed an “overweight” rating and issued a $33.00 target price on shares of Cadence Bank in a research report on Tuesday. DA Davidson reiterated a “buy” rating on shares of Cadence Bank in a report on Monday, January 15th. Keefe, Bruyette & Woods boosted their price target on Cadence Bank from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $31.00 price objective on shares of Cadence Bank in a research report on Tuesday, April 9th. Finally, Hovde Group raised Cadence Bank from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $32.50 to $33.00 in a report on Wednesday.
Get Our Latest Analysis on CADE
Hedge Funds Weigh In On Cadence Bank
Cadence Bank Stock Down 1.1 %
Shares of NYSE CADE opened at $29.06 on Friday. The firm has a fifty day simple moving average of $27.71 and a two-hundred day simple moving average of $26.55. Cadence Bank has a 12 month low of $16.95 and a 12 month high of $31.45. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $5.31 billion, a PE ratio of 9.28 and a beta of 1.02.
Cadence Bank (NYSE:CADE – Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. The company had revenue of $437.69 million for the quarter, compared to analysts’ expectations of $427.18 million. Cadence Bank had a return on equity of 8.97% and a net margin of 23.83%. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 earnings per share. Equities analysts expect that Cadence Bank will post 2.39 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.
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