Cadence Bank (NYSE:CADE) Given Consensus Rating of “Moderate Buy” by Analysts

Cadence Bank (NYSE:CADE) has earned a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $38.77.

CADE has been the subject of several research analyst reports. Morgan Stanley lowered their price target on shares of Cadence Bank from $46.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday. Barclays raised Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Keefe, Bruyette & Woods lifted their price target on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $38.00 price objective on shares of Cadence Bank in a research note on Friday, January 24th. Finally, Stephens reissued an “overweight” rating and set a $42.00 target price on shares of Cadence Bank in a report on Thursday, January 23rd.

Hedge Funds Weigh In On Cadence Bank

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp lifted its position in shares of Cadence Bank by 122.5% during the 4th quarter. Mackenzie Financial Corp now owns 300,652 shares of the company’s stock valued at $10,357,000 after acquiring an additional 165,509 shares during the period. Forum Financial Management LP bought a new stake in Cadence Bank in the fourth quarter valued at $216,000. Neo Ivy Capital Management acquired a new position in shares of Cadence Bank during the fourth quarter valued at about $344,000. GTS Securities LLC bought a new position in shares of Cadence Bank during the 4th quarter worth about $454,000. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in shares of Cadence Bank in the 4th quarter valued at about $690,000. 84.61% of the stock is currently owned by institutional investors.

Cadence Bank Stock Up 1.7 %

CADE stock opened at $29.85 on Monday. The business has a 50-day simple moving average of $33.78 and a 200 day simple moving average of $34.09. Cadence Bank has a 52 week low of $26.16 and a 52 week high of $40.20. The company has a market cap of $5.44 billion, a PE ratio of 10.78 and a beta of 0.96.

Cadence Bank (NYSE:CADE) last posted its earnings results on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. During the same period in the previous year, the company earned $0.40 earnings per share. On average, analysts anticipate that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.10 annualized dividend and a yield of 3.69%. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s dividend payout ratio (DPR) is currently 39.71%.

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.