Cadence Bank (NYSE:CADE) Receives $36.63 Average Price Target from Analysts

Cadence Bank (NYSE:CADE - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $36.63.

CADE has been the subject of a number of recent analyst reports. Barclays raised their price objective on Cadence Bank from $37.00 to $41.00 and gave the company an "equal weight" rating in a research report on Thursday. Truist Financial raised their price target on Cadence Bank from $37.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods upped 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. Morgan Stanley upgraded shares of Cadence Bank from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $36.00 to $39.00 in a research note on Monday, September 30th. Finally, DA Davidson lifted their target price on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd.

Cadence Bank Stock Up 0.5 %

Shares of NYSE:CADE traded up $0.18 during midday trading on Friday, hitting $37.62. The stock had a trading volume of 834,756 shares, compared to its average volume of 1,169,925. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The business's 50-day simple moving average is $35.10 and its 200-day simple moving average is $31.80. Cadence Bank has a 12 month low of $24.99 and a 12 month high of $40.20. The company has a market cap of $6.86 billion, a P/E ratio of 10.81 and a beta of 0.98.

Cadence Bank (NYSE:CADE - Get Free Report) last released its quarterly earnings data on Monday, October 21st. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.09. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. The company had revenue of $447.36 million for the quarter, compared to analyst estimates of $450.97 million. During the same period in the previous year, the business earned $0.56 EPS. Cadence Bank's revenue for the quarter was up 11.0% compared to the same quarter last year. On average, sell-side analysts forecast that Cadence Bank will post 2.71 earnings per share for the current fiscal year.

Cadence Bank Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CADE. V Square Quantitative Management LLC acquired a new position in Cadence Bank during the third quarter valued at approximately $25,000. Point72 Hong Kong Ltd bought a new stake in shares of Cadence Bank during the 3rd quarter worth $32,000. GAMMA Investing LLC boosted its stake in Cadence Bank by 77.0% in the second quarter. GAMMA Investing LLC now owns 1,002 shares of the company's stock valued at $28,000 after buying an additional 436 shares in the last quarter. Innealta Capital LLC bought a new position in Cadence Bank in the second quarter valued at about $138,000. Finally, TD Private Client Wealth LLC raised its stake in Cadence Bank by 23.0% during the third quarter. TD Private Client Wealth LLC now owns 4,954 shares of the company's stock worth $158,000 after acquiring an additional 926 shares in the last quarter. 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.