Cadence Bank (NYSE:CADE) PT Raised to $29.00

Cadence Bank (NYSE:CADE) had its target price boosted by research analysts at Barclays from $28.00 to $29.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential downside of 0.21% from the company’s current price.

Several other research analysts have also issued reports on CADE. Keefe, Bruyette & Woods increased their price target on shares of Cadence Bank from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday. DA Davidson reissued a “buy” rating on shares of Cadence Bank in a research report on Monday, January 15th. Raymond James dropped their price target on shares of Cadence Bank from $35.00 to $34.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 31st. Citigroup increased their price target on shares of Cadence Bank from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, December 29th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $31.00 price objective on shares of Cadence Bank in a report on Tuesday, April 9th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.09.

Cadence Bank Stock Down 1.1 %

NYSE CADE opened at $29.06 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a 50-day simple moving average of $27.71 and a 200 day simple moving average of $26.55. Cadence Bank has a twelve month low of $16.95 and a twelve month high of $31.45. The stock has a market cap of $5.31 billion, a PE ratio of 9.28 and a beta of 1.02.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.08. Cadence Bank had a net margin of 23.83% and a return on equity of 8.97%. The firm had revenue of $437.69 million during the quarter, compared to analyst estimates of $427.18 million. During the same quarter in the prior year, the business posted $0.68 earnings per share. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, research analysts forecast that Cadence Bank will post 2.39 EPS for the current year.

Institutional Trading of Cadence Bank

Hedge funds have recently modified their holdings of the stock. Wolverine Asset Management LLC grew its stake in shares of Cadence Bank by 952.0% during the fourth quarter. Wolverine Asset Management LLC now owns 1,052 shares of the company’s stock valued at $31,000 after purchasing an additional 952 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Cadence Bank during the first quarter valued at approximately $34,000. Fifth Third Bancorp grew its stake in shares of Cadence Bank by 165.8% during the third quarter. Fifth Third Bancorp now owns 1,451 shares of the company’s stock valued at $31,000 after purchasing an additional 905 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Cadence Bank by 8.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,697 shares of the company’s stock valued at $142,000 after purchasing an additional 524 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC bought a new stake in shares of Cadence Bank during the fourth quarter valued at approximately $205,000. 84.61% of the stock is owned by institutional investors.

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.