Stephens Reaffirms “Overweight” Rating for Cadence Bank (NYSE:CADE)

Cadence Bank (NYSE:CADE)‘s stock had its “overweight” rating restated by research analysts at Stephens in a research note issued to investors on Thursday,Benzinga reports. They presently have a $42.00 target price on the stock. Stephens’ price target would indicate a potential upside of 19.55% from the stock’s previous close.

CADE has been the topic of a number of other reports. Royal Bank of Canada raised their target price on Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Truist Financial raised their target price on Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $41.00 to $44.00 in a research note on Thursday, December 19th. Morgan Stanley upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $36.00 to $39.00 in a research note on Monday, September 30th. Finally, DA Davidson raised their target price on Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $38.14.

Cadence Bank Stock Performance

Cadence Bank stock opened at $35.13 on Thursday. The company has a market cap of $6.40 billion, a PE ratio of 12.68 and a beta of 1.00. The company has a fifty day moving average price of $35.98 and a two-hundred day moving average price of $33.52. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. Cadence Bank has a 12 month low of $24.99 and a 12 month high of $40.20.

Cadence Bank (NYSE:CADE) last released its quarterly earnings data 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 net margin of 18.03% and a return on equity of 9.98%. During the same period in the prior year, the firm earned $0.40 earnings per share. Research analysts expect that Cadence Bank will post 2.87 earnings per share for the current year.

Institutional Investors Weigh In On Cadence Bank

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in Cadence Bank by 0.9% in the third quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company’s stock worth $138,974,000 after acquiring an additional 39,679 shares in the last quarter. Cerity Partners LLC raised its position in Cadence Bank by 31.2% in the third 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 raised its position in Cadence Bank by 18.1% in the third quarter. Stifel Financial Corp now owns 21,034 shares of the company’s stock worth $670,000 after acquiring an additional 3,218 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Cadence Bank by 16.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock worth $66,360,000 after acquiring an additional 291,885 shares in the last quarter. Finally, Franklin Resources Inc. bought a new stake in Cadence Bank in the third quarter worth about $947,000. 84.61% of the stock is currently 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.