Cadence Bank (NYSE:CADE – Get Free Report) had its price target lifted by equities researchers at Royal Bank of Canada from $35.00 to $36.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 6.19% from the company’s current price.
A number of other equities analysts also recently commented on the stock. Truist Financial boosted their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday. Stephens restated an “overweight” rating and set a $35.00 price objective on shares of Cadence Bank in a research note on Tuesday, July 23rd. Piper Sandler lowered Cadence Bank from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $33.00 to $34.00 in a research note on Wednesday, July 24th. Hovde Group boosted their target price on shares of Cadence Bank from $33.00 to $36.50 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, DA Davidson raised their price target on shares of Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.29.
Check Out Our Latest Research Report on Cadence Bank
Cadence Bank Stock Performance
Cadence Bank (NYSE:CADE – Get Free Report) last posted its earnings results on Monday, October 21st. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.09. Cadence Bank had a net margin of 24.42% and a return on equity of 8.82%. The business had revenue of $447.36 million for the quarter, compared to the consensus estimate of $450.97 million. During the same quarter last year, the firm posted $0.56 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities research analysts expect that Cadence Bank will post 2.57 earnings per share for the current fiscal year.
Institutional Trading of Cadence Bank
Large investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of Cadence Bank during the third quarter worth about $25,000. GAMMA Investing LLC lifted its stake in Cadence Bank by 77.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock valued at $28,000 after acquiring an additional 436 shares during the period. Innealta Capital LLC purchased a new stake in shares of Cadence Bank in the 2nd quarter valued at $138,000. Davis Investment Partners LLC acquired a new stake in shares of Cadence Bank in the third quarter worth $202,000. Finally, Argent Advisors Inc. purchased a new position in shares of Cadence Bank during the first quarter worth $204,000. Hedge funds and other 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.
See Also
- Five stocks we like better than Cadence Bank
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- Why Meta’s Pre-Earnings Dip Could Be A Golden Entry Opportunity
- Dividend Payout Ratio Calculator
- Spirit Airlines Stock Nearly Doubled: Are Clear Skies Ahead?
- What is the Hang Seng index?
- Tesla Stock: Buy the Dips, Sell the Rips
Receive News & Ratings for Cadence Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Bank and related companies with MarketBeat.com's FREE daily email newsletter.