Cadence Bank (NYSE:CADE) Price Target Increased to $33.00 by Analysts at Keefe, Bruyette & Woods

Cadence Bank (NYSE:CADE) had its price objective boosted by Keefe, Bruyette & Woods from $32.00 to $33.00 in a research note published on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently commented on CADE. Barclays initiated coverage on shares of Cadence Bank in a research report on Friday, March 8th. They set an equal weight rating and a $28.00 price target on the stock. Hovde Group raised shares of Cadence Bank from a market perform rating to an outperform rating and boosted their price target for the stock from $32.50 to $33.00 in a research report on Wednesday. Morgan Stanley boosted their price target on shares of Cadence Bank from $24.00 to $27.00 and gave the stock an equal weight rating in a research report on Wednesday, February 7th. TheStreet cut shares of Cadence Bank from a b rating to a c rating in a report on Tuesday, January 30th. Finally, Jefferies Financial Group dropped their target price on shares of Cadence Bank from $30.00 to $29.00 and set a hold rating on the stock in a report on Monday, April 8th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cadence Bank currently has an average rating of Moderate Buy and an average price target of $31.09.

Cadence Bank Trading Up 1.7 %

Shares of NYSE:CADE opened at $29.37 on Wednesday. The company’s 50-day moving average price is $27.68 and its two-hundred day moving average price is $26.53. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.86 and a quick ratio of 0.85. Cadence Bank has a one year low of $16.95 and a one year high of $31.45. The stock has a market capitalization of $5.36 billion, a PE ratio of 9.38 and a beta of 1.02.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. Cadence Bank had a net margin of 23.83% and a return on equity of 9.22%. The firm had revenue of $437.69 million for the quarter, compared to analysts’ expectations of $427.18 million. During the same period in the previous year, the firm posted $0.68 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities analysts forecast that Cadence Bank will post 2.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp grew its stake in Cadence Bank by 165.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,451 shares of the company’s stock valued at $31,000 after buying an additional 905 shares during the last quarter. Wolverine Asset Management LLC grew its stake in Cadence Bank by 952.0% in the 4th quarter. Wolverine Asset Management LLC now owns 1,052 shares of the company’s stock valued at $31,000 after buying an additional 952 shares during the last quarter. Rise Advisors LLC acquired a new position in Cadence Bank in the 1st quarter valued at about $34,000. Allspring Global Investments Holdings LLC grew its stake in Cadence Bank by 8.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,697 shares of the company’s stock valued at $142,000 after buying an additional 524 shares during the last quarter. Finally, Hardy Reed LLC acquired a new position in Cadence Bank in the 3rd quarter valued at about $203,000. Institutional investors and hedge funds 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.