Cadence Bank (NYSE:CADE) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of Cadence Bank (NYSE:CADE - Get Free Report) have earned an average rating of "Moderate Buy" from the twelve research firms that are presently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $35.29.

A number of equities research analysts have recently issued reports on the stock. Hovde Group increased their price target on shares of Cadence Bank from $33.00 to $36.50 and gave the stock an "outperform" rating in a report on Wednesday, July 24th. DA Davidson lifted 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. Barclays lifted their price target on Cadence Bank from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 23rd. Truist Financial lifted their price objective on Cadence Bank from $37.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Finally, Stephens reiterated an "overweight" rating and set a $35.00 price objective on shares of Cadence Bank in a research note on Tuesday, July 23rd.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CADE. Cerity Partners LLC lifted its stake in shares of Cadence Bank by 31.2% during the 3rd quarter. Cerity Partners LLC now owns 64,377 shares of the company's stock valued at $2,050,000 after buying an additional 15,312 shares in the last quarter. Citigroup Inc. grew its position in shares of Cadence Bank by 14.5% in the third quarter. Citigroup Inc. now owns 296,511 shares of the company's stock valued at $9,444,000 after purchasing an additional 37,586 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Cadence Bank by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,242,486 shares of the company's stock valued at $71,423,000 after purchasing an additional 105,231 shares during the last quarter. Intech Investment Management LLC increased its stake in Cadence Bank by 224.3% during the 3rd quarter. Intech Investment Management LLC now owns 56,452 shares of the company's stock worth $1,798,000 after buying an additional 39,044 shares during the period. Finally, Segall Bryant & Hamill LLC increased its position in shares of Cadence Bank by 21.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,331,112 shares of the company's stock valued at $42,396,000 after purchasing an additional 237,748 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

Cadence Bank Price Performance

CADE stock traded down $0.33 during mid-day trading on Tuesday, hitting $38.85. The stock had a trading volume of 528,552 shares, compared to its average volume of 1,327,649. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. Cadence Bank has a 52 week low of $21.63 and a 52 week high of $39.79. The firm has a market capitalization of $7.08 billion, a P/E ratio of 11.26 and a beta of 0.95. The firm has a fifty day simple moving average of $32.59 and a 200 day simple moving average of $30.61.

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

Cadence Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, December 13th. Cadence Bank's dividend payout ratio is 28.74%.

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.