Cadence Bank (NYSE:CADE) Given Sector Perform Rating at Royal Bank of Canada

Cadence Bank (NYSE:CADE - Get Free Report)'s stock had its "sector perform" rating reiterated by investment analysts at Royal Bank of Canada in a research note issued on Friday,Benzinga reports. They presently have a $38.00 price target on the stock. Royal Bank of Canada's price objective would indicate a potential upside of 8.16% from the stock's previous close.

Several other equities research analysts have also recently issued reports on CADE. Truist Financial boosted their price target on Cadence Bank from $37.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Morgan Stanley upgraded Cadence Bank from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $36.00 to $39.00 in a research note on Monday, September 30th. Barclays upgraded Cadence Bank from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $41.00 to $44.00 in a research note on Thursday, December 19th. DA Davidson upped their target price on Cadence Bank from $36.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Finally, Stephens restated an "overweight" rating and set a $42.00 target price on shares of Cadence Bank in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.14.

Cadence Bank Stock Performance

Shares of Cadence Bank stock traded up $0.90 on Friday, hitting $35.13. The stock had a trading volume of 2,284,032 shares, compared to its average volume of 956,758. Cadence Bank has a twelve month low of $24.99 and a twelve month high of $40.20. The business's 50 day moving average is $35.98 and its two-hundred day moving average is $33.56. 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 stock has a market cap of $6.40 billion, a price-to-earnings ratio of 12.68 and a beta of 1.00.

Cadence Bank (NYSE:CADE - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. Cadence Bank had a return on equity of 9.98% and a net margin of 18.03%. During the same period in the previous year, the company earned $0.40 earnings per share. Analysts forecast that Cadence Bank will post 2.87 EPS for the current year.

Institutional Trading of Cadence Bank

A number of institutional investors and hedge funds have recently bought and sold shares of CADE. Brooklyn Investment Group acquired a new stake in Cadence Bank during the 4th quarter worth about $26,000. V Square Quantitative Management LLC acquired a new stake in Cadence Bank during the 3rd quarter worth about $25,000. Point72 Hong Kong Ltd acquired a new stake in Cadence Bank during the 3rd quarter worth about $32,000. GAMMA Investing LLC grew its holdings in Cadence Bank by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,561 shares of the company's stock worth $50,000 after acquiring an additional 559 shares during the period. Finally, TD Private Client Wealth LLC grew its holdings in Cadence Bank by 23.0% during the 3rd 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 during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.