Stephens Reaffirms “Overweight” Rating for Cadence Bank (NYSE:CADE)

Cadence Bank (NYSE:CADE)‘s stock had its “overweight” rating reaffirmed by stock analysts at Stephens in a research report issued on Thursday,Benzinga reports. They currently have a $42.00 price objective on the stock. Stephens’ price objective suggests a potential upside of 19.55% from the company’s current price.

Several other research analysts have also commented on CADE. Keefe, Bruyette & Woods raised their price target 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. Morgan Stanley upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $36.00 to $39.00 in a report on Monday, September 30th. Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $41.00 to $44.00 in a report on Thursday, December 19th. Royal Bank of Canada raised their price target on shares of Cadence Bank from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. 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, October 23rd. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.14.

Cadence Bank Trading Up 2.6 %

Shares of CADE stock opened at $35.13 on Thursday. The firm has a market cap of $6.40 billion, a P/E ratio of 12.68 and a beta of 1.00. Cadence Bank has a 1-year low of $24.99 and a 1-year high of $40.20. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. The firm’s 50-day simple moving average is $35.98 and its 200-day simple moving average is $33.52.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. Cadence Bank had a net margin of 18.03% and a return on equity of 9.98%. During the same quarter last year, the company posted $0.40 EPS. As a group, equities analysts forecast that Cadence Bank will post 2.87 EPS for the current year.

Institutional Trading of Cadence Bank

A number of hedge funds have recently made changes to their positions in the stock. Journey Strategic Wealth LLC acquired a new stake in shares of Cadence Bank during the fourth quarter worth approximately $215,000. KBC Group NV grew its position in shares of Cadence Bank by 63.6% during the fourth quarter. KBC Group NV now owns 8,239 shares of the company’s stock worth $284,000 after buying an additional 3,203 shares in the last quarter. RFG Advisory LLC grew its position in shares of Cadence Bank by 336.6% during the fourth quarter. RFG Advisory LLC now owns 38,930 shares of the company’s stock worth $1,341,000 after buying an additional 30,014 shares in the last quarter. Sheets Smith Wealth Management grew its position in shares of Cadence Bank by 4.5% during the fourth quarter. Sheets Smith Wealth Management now owns 16,694 shares of the company’s stock worth $575,000 after buying an additional 719 shares in the last quarter. Finally, Capstone Wealth Management LLC acquired a new stake in shares of Cadence Bank during the fourth quarter worth approximately $669,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.