Cadence Bank (NYSE:CADE) Upgraded by Barclays to Overweight Rating

Cadence Bank (NYSE:CADE - Get Free Report) was upgraded by analysts at Barclays from an "equal weight" rating to an "overweight" rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage presently has a $44.00 target price on the stock, up from their previous target price of $41.00. Barclays's price objective would suggest a potential upside of 30.29% from the stock's previous close.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada boosted their price objective on shares of Cadence Bank from $35.00 to $36.00 and gave the stock a "sector perform" rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their price target on Cadence Bank from $38.00 to $45.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Truist Financial raised their price objective on Cadence Bank from $37.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. DA Davidson upped their target price on Cadence Bank from $36.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley raised shares of Cadence Bank from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $36.00 to $39.00 in a research report on Monday, September 30th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.88.

Cadence Bank Stock Down 0.3 %

Shares of NYSE:CADE traded down $0.10 during mid-day trading on Thursday, hitting $33.77. 1,520,882 shares of the company traded hands, compared to its average volume of 1,302,791. The firm's 50 day simple moving average is $35.95 and its 200 day simple moving average is $32.25. The firm has a market cap of $6.15 billion, a P/E ratio of 9.70 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. Cadence Bank has a 52-week low of $24.99 and a 52-week high of $40.20.

Cadence Bank (NYSE:CADE - Get Free Report) last posted its quarterly earnings data 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. 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 quarter last year, the firm posted $0.56 earnings per share. The business's quarterly revenue was up 11.0% on a year-over-year basis. On average, equities analysts anticipate that Cadence Bank will post 2.71 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its holdings in shares of Cadence Bank by 1.2% in the 3rd quarter. FMR LLC now owns 16,423,050 shares of the company's stock worth $523,074,000 after purchasing an additional 195,773 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Cadence Bank by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,825,909 shares of the company's stock worth $277,874,000 after buying an additional 593,878 shares during the period. State Street Corp lifted its stake in Cadence Bank by 1.9% in the third quarter. State Street Corp now owns 8,872,085 shares of the company's stock valued at $284,759,000 after buying an additional 165,282 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cadence Bank by 0.9% during the third quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company's stock valued at $138,974,000 after acquiring an additional 39,679 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Cadence Bank by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,242,486 shares of the company's stock worth $71,423,000 after acquiring an additional 105,231 shares during the last quarter. 84.61% of the stock is 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.