Cadence Bank (NYSE:CADE) Price Target Raised to $29.00 at Barclays

Cadence Bank (NYSE:CADE) had its price target boosted by Barclays from $28.00 to $29.00 in a research report released on Wednesday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other equities analysts also recently issued reports about the company. Keefe, Bruyette & Woods increased their target price on Cadence Bank from $32.00 to $33.00 and gave the stock an outperform rating in a research note on Wednesday. Stephens reissued an overweight rating and set a $33.00 price target on shares of Cadence Bank in a research report on Tuesday. DA Davidson reissued a buy rating on shares of Cadence Bank in a research report on Monday, January 15th. Jefferies Financial Group dropped their price target on Cadence Bank from $30.00 to $29.00 and set a hold rating for the company in a research report on Monday, April 8th. Finally, TheStreet downgraded Cadence Bank from a b rating to a c rating in a research report on Tuesday, January 30th. Five investment 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’s stock. Based on data from MarketBeat, Cadence Bank currently has a consensus rating of Moderate Buy and an average target price of $31.09.

Cadence Bank Stock Up 1.7 %

Cadence Bank stock opened at $29.37 on Wednesday. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 9.38 and a beta of 1.02. 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 twelve month low of $16.95 and a twelve month high of $31.45. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09.

Cadence Bank (NYSE:CADE) last issued its earnings results on Tuesday, April 23rd. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The business had revenue of $437.69 million during the quarter, compared to the consensus estimate of $427.18 million. Cadence Bank had a return on equity of 9.22% and a net margin of 23.83%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS. As a group, research analysts expect that Cadence Bank will post 2.38 earnings per share for the current year.

Institutional Investors Weigh In On Cadence Bank

A number of institutional investors have recently added to or reduced their stakes in CADE. Norges Bank purchased a new stake in Cadence Bank during the fourth quarter valued at about $60,490,000. Wellington Management Group LLP grew its position in Cadence Bank by 15.7% during the third quarter. Wellington Management Group LLP now owns 7,827,982 shares of the company’s stock valued at $166,110,000 after acquiring an additional 1,063,055 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in Cadence Bank by 81.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,532,423 shares of the company’s stock valued at $45,344,000 after acquiring an additional 687,025 shares during the period. Ranger Investment Management L.P. grew its position in Cadence Bank by 59.4% during the fourth quarter. Ranger Investment Management L.P. now owns 1,054,575 shares of the company’s stock valued at $31,205,000 after acquiring an additional 393,037 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Cadence Bank by 4.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,240,127 shares of the company’s stock valued at $273,421,000 after acquiring an additional 376,989 shares during the period. 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.