Cadence Bank (NYSE:CADE) PT Raised to $33.00 at Keefe, Bruyette & Woods

Cadence Bank (NYSE:CADE) had its price target increased by equities researchers at Keefe, Bruyette & Woods from $32.00 to $33.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 13.56% from the stock’s current price.

A number of other brokerages have also issued reports on CADE. Stephens reiterated an “overweight” rating and set a $33.00 price target on shares of Cadence Bank in a research note on Tuesday. Raymond James dropped their price target on shares of Cadence Bank from $35.00 to $34.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 31st. Barclays assumed coverage on shares of Cadence Bank in a research note on Friday, March 8th. They set an “equal weight” rating and a $28.00 price target on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $31.00 price target on shares of Cadence Bank in a research note on Tuesday, April 9th. Finally, Hovde Group upgraded shares of Cadence Bank from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $32.50 to $33.00 in a research report on Wednesday. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $31.09.

Cadence Bank Price Performance

Shares of NYSE:CADE opened at $29.06 on Wednesday. The company has a 50-day simple moving average of $27.71 and a 200-day simple moving average of $26.55. Cadence Bank has a one year low of $16.95 and a one year high of $31.45. 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 stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 9.28 and a beta of 1.02.

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

Institutional Trading of Cadence Bank

Several institutional investors and hedge funds have recently modified their holdings of CADE. Norges Bank purchased a new stake in shares of Cadence Bank in the fourth quarter valued at about $60,490,000. Wellington Management Group LLP lifted its holdings in shares of Cadence Bank by 15.7% in the third quarter. Wellington Management Group LLP now owns 7,827,982 shares of the company’s stock valued at $166,110,000 after purchasing an additional 1,063,055 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Cadence Bank by 81.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,532,423 shares of the company’s stock valued at $45,344,000 after purchasing an additional 687,025 shares in the last quarter. Ranger Investment Management L.P. lifted its holdings in shares of Cadence Bank by 59.4% in the fourth quarter. Ranger Investment Management L.P. now owns 1,054,575 shares of the company’s stock valued at $31,205,000 after purchasing an additional 393,037 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Cadence Bank by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,240,127 shares of the company’s stock valued at $273,421,000 after purchasing an additional 376,989 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.