Shares of Cadence Bank (NYSE:CADE – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the company, MarketBeat Ratings reports. Six equities research 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. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $34.46.
A number of equities analysts have weighed in on CADE shares. Royal Bank of Canada boosted their target price on shares of Cadence Bank from $31.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. Hovde Group boosted their price target on shares of Cadence Bank from $33.00 to $36.50 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Jefferies Financial Group reduced their price objective on shares of Cadence Bank from $31.00 to $29.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. DA Davidson raised their price objective on shares of Cadence Bank from $34.50 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley raised their price target on Cadence Bank from $30.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th.
Get Our Latest Research Report on Cadence Bank
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Cadence Bank Trading Down 2.0 %
Shares of CADE stock opened at $31.99 on Monday. Cadence Bank has a 12-month low of $19.67 and a 12-month high of $34.13. The company has a market capitalization of $5.83 billion, a P/E ratio of 10.22 and a beta of 0.97. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $31.37 and a 200 day moving average price of $29.27.
Cadence Bank (NYSE:CADE – Get Free Report) last announced its earnings results on Monday, July 22nd. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08. Cadence Bank had a net margin of 24.42% and a return on equity of 8.82%. The company had revenue of $742.87 million during the quarter, compared to the consensus estimate of $439.63 million. During the same period in the previous year, the firm posted $0.64 earnings per share. Research analysts forecast that Cadence Bank will post 2.56 earnings per share for the current fiscal year.
Cadence Bank Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.00 annualized dividend and a yield of 3.13%. Cadence Bank’s dividend payout ratio is presently 31.95%.
About Cadence Bank
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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