Cadence Bank (NYSE:CADE) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Cadence Bank (NYSE:CADE - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eleven research firms that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $38.09.

Several brokerages recently commented on CADE. Stephens reaffirmed an "overweight" rating and issued a $42.00 price objective on shares of Cadence Bank in a report on Thursday, January 23rd. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $38.00 price target on shares of Cadence Bank in a research report on Friday, January 24th. Morgan Stanley dropped their price objective on shares of Cadence Bank from $46.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Barclays cut their target price on shares of Cadence Bank from $44.00 to $38.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Citigroup lifted their price target 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.

Hedge Funds Weigh In On Cadence Bank

Hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group purchased a new position in shares of Cadence Bank during the fourth quarter valued at about $26,000. Mather Group LLC. boosted its position in shares of Cadence Bank by 716.2% during the 4th quarter. Mather Group LLC. now owns 808 shares of the company's stock valued at $28,000 after acquiring an additional 709 shares during the last quarter. Keystone Financial Group Inc. purchased a new position in shares of Cadence Bank in the 4th quarter worth $31,000. Smartleaf Asset Management LLC increased its stake in Cadence Bank by 163.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company's stock worth $40,000 after acquiring an additional 722 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Cadence Bank by 504.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,718 shares of the company's stock valued at $59,000 after purchasing an additional 1,434 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

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Cadence Bank Trading Down 0.6 %

CADE traded down $0.17 during trading on Friday, hitting $27.87. 34,780 shares of the company's stock traded hands, compared to its average volume of 1,261,923. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 10.09 and a beta of 0.87. The company's 50 day simple moving average is $30.89 and its two-hundred day simple moving average is $33.65. Cadence Bank has a 12-month low of $25.22 and a 12-month high of $40.20.

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

Cadence Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 3.95%. This is an increase from Cadence Bank's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 14th. Cadence Bank's dividend payout ratio is presently 39.71%.

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.