Cadence Bank (NYSE:CADE) Given New $38.00 Price Target at Citigroup

Cadence Bank (NYSE:CADE) had its price target increased by stock analysts at Citigroup from $37.00 to $38.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 8.06% from the company’s current price.

A number of other analysts have also recently weighed in on CADE. DA Davidson raised their price objective on Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Morgan Stanley upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $36.00 to $39.00 in a research note on Monday, September 30th. Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $41.00 to $44.00 in a report on Thursday, December 19th. Stephens reiterated an “overweight” rating and issued a $42.00 target price on shares of Cadence Bank in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $38.00 price target on shares of Cadence Bank in a research note on Friday, January 24th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.13.

Cadence Bank Stock Performance

Shares of Cadence Bank stock opened at $35.17 on Monday. The company has a market capitalization of $6.41 billion, a PE ratio of 12.69 and a beta of 1.00. The company has a 50-day simple moving average of $35.90 and a two-hundred day simple moving average of $33.67. Cadence Bank has a one year low of $24.99 and a one year high of $40.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, topping the consensus estimate 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 quarter last year, the firm posted $0.40 earnings per share. Research analysts expect that Cadence Bank will post 2.87 EPS for the current fiscal year.

Institutional Trading of Cadence Bank

A number of hedge funds have recently modified their holdings of CADE. GAMMA Investing LLC raised its holdings in shares of Cadence Bank by 19.3% in the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock valued at $64,000 after buying an additional 301 shares during the period. KBC Group NV increased its stake in Cadence Bank by 11.5% during the third quarter. KBC Group NV now owns 5,036 shares of the company’s stock worth $160,000 after purchasing an additional 519 shares during the period. Algert Global LLC lifted its position in shares of Cadence Bank by 2.8% during the third quarter. Algert Global LLC now owns 18,920 shares of the company’s stock worth $603,000 after purchasing an additional 522 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Cadence Bank by 1.4% during the third quarter. HighTower Advisors LLC now owns 43,940 shares of the company’s stock worth $1,406,000 after purchasing an additional 599 shares in the last quarter. Finally, Mather Group LLC. boosted its stake in shares of Cadence Bank by 716.2% in the fourth quarter. Mather Group LLC. now owns 808 shares of the company’s stock valued at $28,000 after purchasing an additional 709 shares during the period. 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.