Brokerages Set Cadence Bank (NYSE:CADE) Target Price at $38.50

Shares of Cadence Bank (NYSE:CADE - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eleven research firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $38.50.

Several brokerages have recently commented on CADE. Stephens reaffirmed an "overweight" rating and issued a $42.00 target price on shares of Cadence Bank in a research report on Thursday, January 23rd. DA Davidson increased their price target 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. Keefe, Bruyette & Woods raised their target price on shares of Cadence Bank from $38.00 to $45.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Barclays raised shares of Cadence Bank from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $41.00 to $44.00 in a research note on Thursday, December 19th. Finally, Truist Financial upped their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd.

Institutional Trading of Cadence Bank

A number of institutional investors have recently bought and sold shares of CADE. Mackenzie Financial Corp raised its position in Cadence Bank by 122.5% in the fourth quarter. Mackenzie Financial Corp now owns 300,652 shares of the company's stock worth $10,357,000 after acquiring an additional 165,509 shares during the period. Forum Financial Management LP purchased a new stake in Cadence Bank during the 4th quarter valued at $216,000. Neo Ivy Capital Management bought a new position in Cadence Bank in the 4th quarter worth $344,000. GTS Securities LLC bought a new position in shares of Cadence Bank in the 4th quarter worth about $454,000. Finally, Focus Partners Advisor Solutions LLC purchased a new stake in Cadence Bank during the 4th quarter valued at about $690,000. Institutional investors own 84.61% of the company's stock.

Cadence Bank Trading Down 1.0 %

CADE traded down $0.34 during mid-day trading on Thursday, hitting $33.68. 1,347,989 shares of the stock were exchanged, compared to its average volume of 1,171,009. Cadence Bank has a 1-year low of $26.16 and a 1-year high of $40.20. The company has a market cap of $6.14 billion, a PE ratio of 12.16 and a beta of 0.99. The firm's fifty day moving average is $34.96 and its two-hundred day moving average is $33.96.

Cadence Bank (NYSE:CADE - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. Cadence Bank had a return on equity of 9.87% and a net margin of 18.03%. During the same period in the previous year, the business earned $0.40 earnings per share. As a group, research analysts anticipate that Cadence Bank will post 2.94 earnings per share 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 dividend of $0.275 per share. This is an increase from Cadence Bank's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 3.27%. The ex-dividend date is Friday, March 14th. Cadence Bank's payout ratio is currently 36.10%.

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.