Analysts Set Cadence Bank (NYSE:CADE) PT at $38.77

Shares of Cadence Bank (NYSE:CADE - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eleven ratings firms that are presently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $38.77.

Several equities analysts have issued reports on the stock. Stephens reaffirmed an "overweight" rating and issued a $42.00 price target on shares of Cadence Bank in a report on Thursday, January 23rd. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $38.00 price target on shares of Cadence Bank in a report on Friday, January 24th. Citigroup lifted their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Barclays upgraded shares of Cadence Bank from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $41.00 to $44.00 in a research note on Thursday, December 19th. Finally, Morgan Stanley lowered their price objective on shares of Cadence Bank from $46.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th.

Cadence Bank Stock Performance

NYSE CADE traded down $0.54 during trading on Monday, hitting $30.12. The stock had a trading volume of 998,700 shares, compared to its average volume of 1,173,400. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 10.87 and a beta of 0.96. Cadence Bank has a one year low of $26.16 and a one year high of $40.20. The stock has a 50 day simple moving average of $33.51 and a 200 day simple moving average of $34.04.

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Cadence Bank (NYSE:CADE - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. During the same quarter in the prior year, the firm earned $0.40 earnings per share. On average, sell-side analysts predict that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.65%. This is an increase from Cadence Bank's previous quarterly dividend of $0.25. Cadence Bank's dividend payout ratio is 39.71%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CADE. Norges Bank acquired a new position in shares of Cadence Bank in the fourth quarter worth about $71,915,000. Millennium Management LLC raised its position in shares of Cadence Bank by 846.1% in the fourth quarter. Millennium Management LLC now owns 1,052,906 shares of the company's stock worth $36,273,000 after acquiring an additional 941,613 shares during the period. Boston Partners purchased a new stake in shares of Cadence Bank during the fourth quarter worth about $24,834,000. First Trust Advisors LP increased its stake in shares of Cadence Bank by 21.2% during the fourth quarter. First Trust Advisors LP now owns 2,634,335 shares of the company's stock worth $90,753,000 after purchasing an additional 460,486 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Cadence Bank during the fourth quarter worth about $13,225,000. Institutional investors and hedge funds 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.