Cadence Bank (NYSE:CADE) Receives $38.14 Average PT from Analysts

Shares of Cadence Bank (NYSE:CADE) have been given an average recommendation of “Moderate Buy” by the eleven analysts that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $38.50.

Several brokerages recently issued reports on CADE. Royal Bank of Canada reiterated a “sector perform” rating and issued a $38.00 target price on shares of Cadence Bank in a research note on Friday, January 24th. Keefe, Bruyette & Woods lifted their target price on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Truist Financial increased their price target on Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. DA Davidson upped their price objective on shares of Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Citigroup lifted their target price on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday.

Cadence Bank Trading Up 0.2 %

NYSE CADE opened at $35.21 on Friday. Cadence Bank has a 12 month low of $24.99 and a 12 month high of $40.20. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average of $35.81 and a 200-day moving average of $33.69. The company has a market cap of $6.42 billion, a PE ratio of 12.71 and a beta of 1.00.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, beating 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 previous year, the company earned $0.40 earnings per share. On average, equities research analysts anticipate that Cadence Bank will post 2.87 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.275 dividend. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, March 14th. Cadence Bank’s payout ratio is 36.10%.

Hedge Funds Weigh In On Cadence Bank

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC increased its position in shares of Cadence Bank by 27.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,483 shares of the company’s stock worth $437,000 after purchasing an additional 3,545 shares during the period. Sei Investments Co. increased its holdings in Cadence Bank by 49.7% in the 2nd quarter. Sei Investments Co. now owns 75,128 shares of the company’s stock valued at $2,125,000 after buying an additional 24,950 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Cadence Bank in the 2nd quarter valued at approximately $670,000. AQR Capital Management LLC lifted its holdings in shares of Cadence Bank by 74.2% during the 2nd quarter. AQR Capital Management LLC now owns 30,254 shares of the company’s stock worth $856,000 after acquiring an additional 12,887 shares during the period. Finally, Algert Global LLC acquired a new stake in shares of Cadence Bank during the 2nd quarter worth approximately $520,000. Institutional investors own 84.61% of the company’s stock.

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.