Cadence Bank (NYSE:CADE) Receives “Overweight” Rating from Stephens

Cadence Bank (NYSE:CADE)‘s stock had its “overweight” rating reiterated by equities researchers at Stephens in a report released on Tuesday, Benzinga reports. They presently have a $33.00 price objective on the stock. Stephens’ price objective would indicate a potential upside of 12.36% from the stock’s previous close.

CADE has been the subject of a number of other research reports. Citigroup lifted their price target on Cadence Bank from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, December 29th. Hovde Group cut Cadence Bank from an “outperform” rating to a “market perform” rating and set a $32.50 price target for the company. in a research report on Tuesday, January 30th. Jefferies Financial Group decreased their price objective on Cadence Bank from $30.00 to $29.00 and set a “hold” rating for the company in a report on Monday, April 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $31.00 price objective on shares of Cadence Bank in a report on Tuesday, April 9th. Finally, Truist Financial boosted their price objective on Cadence Bank from $32.00 to $33.00 and gave the company a “buy” rating in a report on Monday, April 1st. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cadence Bank has a consensus rating of “Moderate Buy” and a consensus price target of $31.09.

Cadence Bank Stock Performance

Shares of CADE opened at $29.37 on Tuesday. The stock has a 50-day moving average of $27.68 and a two-hundred day moving average of $26.53. Cadence Bank has a one year low of $16.95 and a one year high of $31.45. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market cap of $5.36 billion, a P/E 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 analysts’ consensus estimates of $0.54 by $0.08. Cadence Bank had a return on equity of 9.22% and a net margin of 23.83%. The company had revenue of $437.69 million during the quarter, compared to analysts’ expectations of $427.18 million. During the same quarter in the previous year, the firm posted $0.68 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. As a group, research analysts predict that Cadence Bank will post 2.38 EPS for the current year.

Hedge Funds Weigh In On Cadence Bank

A number of large investors have recently bought and sold shares of CADE. Ronald Blue Trust Inc. raised its holdings in Cadence Bank by 166.6% in the 3rd quarter. Ronald Blue Trust Inc. now owns 3,674 shares of the company’s stock worth $72,000 after purchasing an additional 2,296 shares during the period. SG Americas Securities LLC raised its holdings in Cadence Bank by 109.1% in the 3rd quarter. SG Americas Securities LLC now owns 82,899 shares of the company’s stock worth $1,759,000 after purchasing an additional 43,252 shares during the period. Sheets Smith Wealth Management raised its holdings in Cadence Bank by 3.8% in the 3rd quarter. Sheets Smith Wealth Management now owns 16,256 shares of the company’s stock worth $345,000 after purchasing an additional 589 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Cadence Bank by 19.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,966 shares of the company’s stock worth $806,000 after purchasing an additional 6,259 shares during the period. Finally, Strs Ohio raised its holdings in Cadence Bank by 12.1% in the 3rd quarter. Strs Ohio now owns 15,700 shares of the company’s stock worth $333,000 after purchasing an additional 1,700 shares during the period. 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.