Cadence Bank (NYSE:CADE) Given “Overweight” Rating at Stephens

Stephens reiterated their overweight rating on shares of Cadence Bank (NYSE:CADE) in a report issued on Thursday,Benzinga reports. They currently have a $42.00 price target on the stock.

Other research analysts have also recently issued reports about the company. Morgan Stanley upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $36.00 to $39.00 in a research note on Monday, September 30th. Royal Bank of Canada boosted their target price on shares of Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Truist Financial increased their price objective on Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, DA Davidson lifted their target price on Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Three investment 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.95.

Cadence Bank Price Performance

Shares of NYSE CADE opened at $34.19 on Thursday. The stock has a market capitalization of $6.23 billion, a PE ratio of 9.82 and a beta of 1.00. Cadence Bank has a fifty-two week low of $24.99 and a fifty-two week 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 business has a fifty day moving average price of $36.03 and a two-hundred day moving average price of $33.47.

Cadence Bank (NYSE:CADE) last posted 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 25.99% and a return on equity of 8.95%. During the same quarter in the previous year, the business earned $0.40 earnings per share. As a group, equities analysts predict that Cadence Bank will post 2.71 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s dividend payout ratio is 28.74%.

Institutional Trading of Cadence Bank

Large investors have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in Cadence Bank in the third quarter worth approximately $25,000. Brooklyn Investment Group bought a new position in shares of Cadence Bank in the 4th quarter worth $26,000. Point72 Hong Kong Ltd acquired a new stake in Cadence Bank in the 3rd quarter valued at $32,000. GAMMA Investing LLC grew its position in Cadence Bank by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,561 shares of the company’s stock valued at $50,000 after purchasing an additional 559 shares during the period. Finally, TD Private Client Wealth LLC increased its stake in Cadence Bank by 23.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 4,954 shares of the company’s stock valued at $158,000 after purchasing an additional 926 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.