Cadence Bank (NYSE:CADE) Given New $35.00 Price Target at Barclays

Cadence Bank (NYSE:CADE) had its target price increased by research analysts at Barclays from $33.00 to $35.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential upside of 11.11% from the company’s current price.

Several other equities research analysts have also weighed in on CADE. Royal Bank of Canada increased their target price on shares of Cadence Bank from $31.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. Jefferies Financial Group reduced their target price on Cadence Bank from $31.00 to $29.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Stephens restated an “overweight” rating and issued a $35.00 price target on shares of Cadence Bank in a report on Tuesday, July 23rd. Hovde Group raised their price target on Cadence Bank from $33.00 to $36.50 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Morgan Stanley boosted their price objective on Cadence Bank from $30.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cadence Bank has a consensus rating of “Moderate Buy” and a consensus target price of $34.63.

Cadence Bank Trading Down 0.4 %

Shares of NYSE:CADE traded down $0.13 during midday trading on Friday, hitting $31.50. The company had a trading volume of 196,976 shares, compared to its average volume of 1,325,565. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.05. Cadence Bank has a 12 month low of $19.67 and a 12 month high of $34.13. The firm has a fifty day simple moving average of $31.36 and a 200 day simple moving average of $29.36. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 10.07 and a beta of 0.97.

Cadence Bank (NYSE:CADE) last issued its earnings results on Monday, July 22nd. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08. The firm had revenue of $742.87 million for the quarter, compared to analysts’ expectations of $439.63 million. Cadence Bank had a return on equity of 8.82% and a net margin of 24.42%. During the same quarter last year, the business earned $0.64 earnings per share. On average, analysts predict that Cadence Bank will post 2.55 EPS for the current year.

Institutional Trading of Cadence Bank

A number of institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its position in Cadence Bank by 77.0% during the second quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock worth $28,000 after acquiring an additional 436 shares in the last quarter. Rise Advisors LLC bought a new stake in Cadence Bank during the first quarter worth $34,000. Innealta Capital LLC bought a new stake in Cadence Bank during the second quarter worth $138,000. Argent Advisors Inc. bought a new stake in Cadence Bank during the first quarter worth $204,000. Finally, Lavaca Capital LLC bought a new stake in Cadence Bank during the first quarter worth $207,000. Institutional investors 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.