Cadence Bank's (CADE) "Overweight" Rating Reiterated at Stephens

Cadence Bank (NYSE:CADE - Get Free Report)'s stock had its "overweight" rating reissued by equities research analysts at Stephens in a note issued to investors on Tuesday,Benzinga reports. They presently have a $40.00 price target on the stock. Stephens' price target would indicate a potential upside of 44.72% from the company's current price.

Several other research firms have also recently weighed in on CADE. Citigroup upped their target price on Cadence Bank from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Morgan Stanley reduced their price objective on Cadence Bank from $46.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Barclays dropped their target price on shares of Cadence Bank from $44.00 to $38.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $38.00 price target on shares of Cadence Bank in a report on Friday, January 24th. Finally, Hovde Group cut their target price on shares of Cadence Bank from $40.00 to $35.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 2nd. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $37.91.

Cadence Bank Stock Performance

NYSE:CADE opened at $27.64 on Tuesday. Cadence Bank has a fifty-two week low of $25.22 and a fifty-two week high of $40.20. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 9.98 and a beta of 0.87. The stock has a fifty day moving average price of $30.30 and a 200-day moving average price of $33.58.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.07. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. The firm had revenue of $448.55 million for the quarter, compared to the consensus estimate of $451.61 million. During the same period in the prior year, the company posted $0.62 earnings per share. Research analysts predict that Cadence Bank will post 2.94 EPS for the current fiscal year.

Institutional Trading of Cadence Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CADE. Brooklyn Investment Group acquired a new stake in shares of Cadence Bank during the fourth quarter worth $26,000. Mather Group LLC. boosted its position in Cadence Bank by 716.2% during the fourth 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. acquired a new stake in Cadence Bank during the 4th quarter worth about $31,000. Smartleaf Asset Management LLC raised its position in shares of Cadence Bank by 163.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company's stock worth $40,000 after acquiring an additional 722 shares in the last quarter. Finally, Abound Wealth Management lifted its stake in shares of Cadence Bank by 223.3% in the 1st quarter. Abound Wealth Management now owns 1,665 shares of the company's stock valued at $51,000 after purchasing an additional 1,150 shares during the period. 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.

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