Analysts Set Cadence Bank (NYSE:CADE) Target Price at $37.32

Shares of Cadence Bank (NYSE:CADE) have been assigned an average rating of “Moderate Buy” from the eleven analysts that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $37.32.

CADE has been the subject of a number of research reports. Truist Financial upped their price objective on Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. DA Davidson upped 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. Morgan Stanley upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $36.00 to $39.00 in a research report on Monday, September 30th. Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th.

Cadence Bank Price Performance

NYSE:CADE opened at $34.45 on Wednesday. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 9.90 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. The stock has a fifty day moving average of $36.29 and a 200 day moving average of $32.77. Cadence Bank has a 52-week low of $24.99 and a 52-week high of $40.20.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data on Monday, October 21st. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.64 by $0.09. The company had revenue of $447.36 million during the quarter, compared to analyst estimates of $450.97 million. Cadence Bank had a return on equity of 8.95% and a net margin of 25.99%. Cadence Bank’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.56 earnings per share. On average, research analysts expect that Cadence Bank will post 2.71 EPS for the current fiscal year.

Cadence Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.90%. Cadence Bank’s dividend payout ratio is currently 28.74%.

Institutional Investors Weigh In On Cadence Bank

Large investors have recently made changes to their positions in the business. FMR LLC boosted its stake in shares of Cadence Bank by 1.2% during the 3rd quarter. FMR LLC now owns 16,423,050 shares of the company’s stock valued at $523,074,000 after purchasing an additional 195,773 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 boosted its position in Cadence Bank by 1.9% during the 3rd quarter. State Street Corp now owns 8,872,085 shares of the company’s stock valued at $284,759,000 after acquiring an additional 165,282 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Cadence Bank by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,362,543 shares of the company’s stock worth $138,974,000 after acquiring an additional 39,679 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Cadence Bank by 4.9% in the 3rd 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 in the last quarter. 84.61% of the stock is currently owned by institutional investors.

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.