Cadence Bank (NYSE:CADE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Cadence Bank (NYSE:CADE) has received a consensus rating of “Moderate Buy” from the eleven analysts that are covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $38.09.

Several equities analysts recently weighed in on CADE shares. Morgan Stanley cut their price objective on shares of Cadence Bank from $46.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Stephens restated an “overweight” rating and issued a $42.00 price target on shares of Cadence Bank in a research report on Thursday, January 23rd. Barclays decreased their price objective on Cadence Bank from $44.00 to $38.00 and set an “overweight” rating for the company in a research note on Tuesday. Citigroup increased their target price on Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $38.00 target price on shares of Cadence Bank in a research report on Friday, January 24th.

Cadence Bank Stock Down 6.5 %

CADE stock opened at $26.98 on Friday. Cadence Bank has a twelve month low of $25.22 and a twelve month high of $40.20. The company has a market cap of $4.92 billion, a P/E ratio of 9.74 and a beta of 0.87. The business has a fifty day moving average of $31.35 and a 200-day moving average of $33.73.

Cadence Bank (NYSE:CADE) last announced 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 return on equity of 9.87% and a net margin of 18.03%. During the same quarter in the previous year, the company posted $0.40 earnings per share. As a group, equities research analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.275 dividend. The ex-dividend date of this dividend was 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 dividend yield of 4.08%. Cadence Bank’s payout ratio is currently 39.71%.

Institutional Trading of Cadence Bank

Several hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group acquired a new position in shares of Cadence Bank in the fourth quarter valued at approximately $26,000. Mather Group LLC. lifted its position in Cadence Bank by 716.2% in the 4th quarter. Mather Group LLC. now owns 808 shares of the company’s stock valued at $28,000 after acquiring an additional 709 shares in the last quarter. Keystone Financial Group Inc. acquired a new position in Cadence Bank in the 4th quarter worth $31,000. Smartleaf Asset Management LLC increased its holdings in Cadence Bank by 163.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock worth $40,000 after purchasing an additional 722 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in shares of Cadence Bank by 504.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,718 shares of the company’s stock valued at $59,000 after purchasing an additional 1,434 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

About Cadence Bank

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.