Analysts Set Cadence Bank (NYSE:CADE) PT at $38.50

Shares of Cadence Bank (NYSE:CADE) have received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $38.50.

A number of research analysts have recently issued reports on CADE shares. Keefe, Bruyette & Woods raised their price objective on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Barclays raised Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $41.00 to $44.00 in a research note on Thursday, December 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $38.00 target price on shares of Cadence Bank in a research note on Friday, January 24th. Stephens reissued an “overweight” rating and issued a $42.00 target price on shares of Cadence Bank in a research note on Thursday, January 23rd. Finally, Citigroup raised their target price on Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th.

Institutional Trading of Cadence Bank

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Cadence Bank during the third quarter valued at approximately $5,511,000. Moody Aldrich Partners LLC lifted its holdings in shares of Cadence Bank by 28.6% during the third quarter. Moody Aldrich Partners LLC now owns 294,932 shares of the company’s stock valued at $9,394,000 after purchasing an additional 65,595 shares during the last quarter. Moody Lynn & Lieberson LLC purchased a new position in shares of Cadence Bank during the third quarter valued at approximately $220,000. State of Alaska Department of Revenue lifted its holdings in shares of Cadence Bank by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 21,160 shares of the company’s stock valued at $673,000 after purchasing an additional 1,435 shares during the last quarter. Finally, Leuthold Group LLC purchased a new position in shares of Cadence Bank during the third quarter valued at approximately $2,743,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Bank Stock Down 1.9 %

CADE opened at $33.05 on Thursday. The stock has a market cap of $6.02 billion, a PE ratio of 11.93 and a beta of 0.99. Cadence Bank has a 52 week low of $26.16 and a 52 week high of $40.20. The business’s fifty day simple moving average is $34.83 and its 200 day simple moving average is $34.02.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a return on equity of 9.87% and a net margin of 18.03%. During the same quarter in the previous year, the company earned $0.40 EPS. As a group, equities analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.275 dividend. The ex-dividend date is Friday, March 14th. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 3.33%. Cadence Bank’s dividend payout ratio (DPR) is 36.10%.

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.