Cadence Bank (NYSE:CADE) Stock Rating Reaffirmed by Stephens

Stephens reiterated their overweight rating on shares of Cadence Bank (NYSE:CADE) in a research report report published on Tuesday morning, Benzinga reports. Stephens currently has a $33.00 price objective on the stock.

Several other analysts also recently commented on CADE. Citigroup increased their target price on Cadence Bank from $27.00 to $32.00 and gave the company a neutral rating in a research note on Friday, December 29th. Royal Bank of Canada restated a sector perform rating and issued a $31.00 price target on shares of Cadence Bank in a research note on Tuesday, April 9th. Jefferies Financial Group dropped their price target on Cadence Bank from $30.00 to $29.00 and set a hold rating on the stock in a research note on Monday, April 8th. Raymond James dropped their price target on Cadence Bank from $35.00 to $34.00 and set a strong-buy rating on the stock in a research note on Wednesday, January 31st. Finally, Barclays started coverage on Cadence Bank in a research note on Friday, March 8th. They issued an equal weight rating and a $28.00 price target on the stock. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $31.09.

Cadence Bank Stock Performance

Shares of CADE opened at $29.06 on Tuesday. The business’s fifty day simple moving average is $27.71 and its two-hundred day simple moving average is $26.55. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. Cadence Bank has a 12 month low of $16.95 and a 12 month high of $31.45. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 9.28 and a beta of 1.02.

Cadence Bank (NYSE:CADE) last issued its earnings results on Tuesday, April 23rd. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. Cadence Bank had a return on equity of 8.97% and a net margin of 23.83%. The business had revenue of $437.69 million for the quarter, compared to the consensus estimate of $427.18 million. During the same period last year, the business posted $0.68 EPS. The company’s revenue was up 12.6% compared to the same quarter last year. Research analysts anticipate that Cadence Bank will post 2.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cadence Bank

Institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its holdings in Cadence Bank by 8.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,697 shares of the company’s stock valued at $142,000 after acquiring an additional 524 shares during the period. Sheets Smith Wealth Management raised its holdings in Cadence Bank by 3.8% during the third quarter. Sheets Smith Wealth Management now owns 16,256 shares of the company’s stock valued at $345,000 after acquiring an additional 589 shares during the period. AlphaMark Advisors LLC raised its holdings in Cadence Bank by 6.8% during the fourth quarter. AlphaMark Advisors LLC now owns 11,482 shares of the company’s stock valued at $340,000 after acquiring an additional 728 shares during the period. Retirement Systems of Alabama raised its holdings in Cadence Bank by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 228,778 shares of the company’s stock valued at $6,770,000 after acquiring an additional 754 shares during the period. Finally, Arizona State Retirement System raised its holdings in Cadence Bank by 1.5% during the third quarter. Arizona State Retirement System now owns 52,032 shares of the company’s stock valued at $1,104,000 after acquiring an additional 789 shares during the period. 84.61% of the stock is owned by institutional investors.

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.