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

Cadence Bank (NYSE:CADE) has been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $38.09.

A number of research analysts have commented on the stock. Barclays cut their target price on shares of Cadence Bank from $44.00 to $38.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $38.00 price target on shares of Cadence Bank in a report on Friday, January 24th. Morgan Stanley dropped 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. Hovde Group lowered their price objective on Cadence Bank from $40.00 to $35.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 2nd. Finally, Stephens reaffirmed an “overweight” rating and issued a $42.00 price target on shares of Cadence Bank in a report on Thursday, January 23rd.

Institutional Trading of Cadence Bank

A number of institutional investors have recently modified their holdings of CADE. Brooklyn Investment Group acquired a new stake in Cadence Bank in the fourth quarter valued at $26,000. Mather Group LLC. increased its holdings in shares of 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 purchasing an additional 709 shares in the last quarter. Keystone Financial Group Inc. acquired a new stake in shares of Cadence Bank in the fourth quarter valued at about $31,000. Smartleaf Asset Management LLC boosted its holdings in Cadence Bank by 163.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock worth $40,000 after buying an additional 722 shares in the last quarter. Finally, UMB Bank n.a. grew its position in Cadence Bank by 169.6% during the first quarter. UMB Bank n.a. now owns 1,774 shares of the company’s stock worth $54,000 after buying an additional 1,116 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Cadence Bank Trading Up 2.2 %

Shares of CADE stock opened at $28.06 on Friday. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of 10.13 and a beta of 0.87. Cadence Bank has a 12-month low of $25.22 and a 12-month high of $40.20. The stock’s 50-day moving average price is $30.89 and its 200-day moving average price is $33.65.

Cadence Bank (NYSE:CADE) last released its earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the firm posted $0.40 earnings per share. As a group, research analysts predict 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 was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.92%. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 14th. Cadence Bank’s dividend payout ratio is 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.