Cadence Bank (NYSE:CADE) Price Target Raised to $41.00

Cadence Bank (NYSE:CADE) had its price objective hoisted by Barclays from $37.00 to $41.00 in a report published on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts have also issued reports on CADE. DA Davidson increased their price target on Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Truist Financial lifted 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. Royal Bank of Canada upped their price target on Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods increased their price objective on shares of Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Morgan Stanley raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $36.00 to $39.00 in a report on Monday, September 30th. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.63.

Cadence Bank Stock Up 0.5 %

CADE stock opened at $37.62 on Thursday. The business’s 50-day moving average price is $35.10 and its 200-day moving average price is $31.80. The stock has a market cap of $6.86 billion, a P/E ratio of 10.81 and a beta of 0.98. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. Cadence Bank has a twelve month low of $24.99 and a twelve month high of $40.20.

Cadence Bank (NYSE:CADE) last released its earnings results on Monday, October 21st. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.09. The company had revenue of $447.36 million for the quarter, compared to analysts’ expectations of $450.97 million. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.56 EPS. On average, equities research analysts forecast that Cadence Bank will post 2.71 EPS for the current year.

Cadence Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a $0.25 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.66%. Cadence Bank’s dividend payout ratio (DPR) is presently 28.74%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in shares of Cadence Bank by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,825,909 shares of the company’s stock valued at $277,874,000 after purchasing an additional 593,878 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Cadence Bank in the third quarter worth $11,727,000. Vaughan Nelson Investment Management L.P. lifted 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 buying an additional 291,885 shares during the last quarter. Segall Bryant & Hamill LLC increased its position in Cadence Bank by 21.7% during the third quarter. Segall Bryant & Hamill LLC now owns 1,331,112 shares of the company’s stock valued at $42,396,000 after acquiring an additional 237,748 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Cadence Bank by 1.2% in the third quarter. FMR LLC now owns 16,423,050 shares of the company’s stock valued at $523,074,000 after acquiring an additional 195,773 shares during the period. 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.