Cadence Bank (NYSE:CADE) Receives "Overweight" Rating from Stephens

Cadence Bank (NYSE:CADE - Get Free Report)'s stock had its "overweight" rating reiterated by analysts at Stephens in a note issued to investors on Thursday,Benzinga reports. They presently have a $42.00 price objective on the stock. Stephens' price target would indicate a potential upside of 19.55% from the stock's previous close.

Several other equities research analysts also recently weighed in on CADE. Morgan Stanley raised shares of Cadence Bank from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $36.00 to $39.00 in a research note on Monday, September 30th. Keefe, Bruyette & Woods boosted their target price on Cadence Bank from $38.00 to $45.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Barclays raised Cadence Bank from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $41.00 to $44.00 in a research note on Thursday, December 19th. Truist Financial boosted their price objective on Cadence Bank from $37.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, DA Davidson increased 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. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.14.

Cadence Bank Stock Performance

NYSE CADE traded up $0.90 during trading hours on Thursday, hitting $35.13. 2,284,032 shares of the company's stock traded hands, compared to its average volume of 1,389,255. The business's fifty day moving average price is $36.03 and its two-hundred day moving average price is $33.47. The firm has a market capitalization of $6.40 billion, a P/E ratio of 12.68 and a beta of 1.00. Cadence Bank has a 52 week low of $24.99 and a 52 week high of $40.20. 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 (NYSE:CADE - Get Free Report) last released its quarterly earnings data 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 net margin of 18.03% and a return on equity of 9.98%. During the same quarter in the previous year, the company earned $0.40 EPS. Equities research analysts predict that Cadence Bank will post 2.87 EPS for the current year.

Institutional Investors Weigh In On Cadence Bank

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Cadence Bank by 27.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 16,483 shares of the company's stock worth $437,000 after acquiring an additional 3,545 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Cadence Bank during the second quarter worth $492,000. Sei Investments Co. grew its holdings in shares of Cadence Bank by 49.7% during the second quarter. Sei Investments Co. now owns 75,128 shares of the company's stock worth $2,125,000 after buying an additional 24,950 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Cadence Bank in the second quarter valued at about $670,000. Finally, AQR Capital Management LLC lifted its stake in Cadence Bank by 74.2% in the 2nd quarter. AQR Capital Management LLC now owns 30,254 shares of the company's stock worth $856,000 after purchasing an additional 12,887 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

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.