Brokerages Set Cadence Bank (NYSE:CADE) Target Price at $42.33

Cadence Bank (NYSE:CADE) has earned an average recommendation of “Hold” from the eleven analysts that are covering the stock, MarketBeat.com reports. Nine analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $42.3333.

Several equities analysts have recently commented on CADE shares. Weiss Ratings restated a “hold (c+)” rating on shares of Cadence Bank in a report on Wednesday, October 8th. Barclays lowered Cadence Bank from an “overweight” rating to a “hold” rating in a research report on Tuesday, October 28th. Piper Sandler set a $40.00 price target on Cadence Bank and gave the stock a “neutral” rating in a research note on Monday, October 27th. Keefe, Bruyette & Woods lowered Cadence Bank from a “moderate buy” rating to a “hold” rating and raised their price target for the stock from $41.00 to $49.00 in a research report on Monday, November 3rd. Finally, Zacks Research cut Cadence Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th.

Institutional Investors Weigh In On Cadence Bank

Several large investors have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC boosted its stake in shares of Cadence Bank by 3.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 137,643 shares of the company’s stock valued at $5,167,000 after buying an additional 4,404 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in shares of Cadence Bank during the third quarter worth approximately $748,000. Wilmington Savings Fund Society FSB acquired a new stake in Cadence Bank in the third quarter valued at approximately $38,000. Coldstream Capital Management Inc. acquired a new stake in Cadence Bank in the third quarter valued at approximately $219,000. Finally, Danske Bank A S purchased a new position in Cadence Bank in the third quarter worth approximately $45,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Cadence Bank Trading Up 0.2%

Shares of Cadence Bank stock traded up $0.07 during trading hours on Friday, hitting $39.84. The company’s stock had a trading volume of 754,998 shares, compared to its average volume of 2,031,998. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 14.43 and a beta of 0.95. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.87 and a current ratio of 0.87. Cadence Bank has a twelve month low of $25.22 and a twelve month high of $40.23. The firm has a fifty day moving average of $37.90 and a 200-day moving average of $35.37.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data on Monday, October 20th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.04. The firm had revenue of $517.24 million for the quarter, compared to analyst estimates of $523.60 million. Cadence Bank had a net margin of 18.15% and a return on equity of 10.08%. During the same period in the previous year, the firm earned $0.73 EPS. Research analysts forecast that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, December 15th. Cadence Bank’s dividend payout ratio (DPR) is presently 39.86%.

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.