Cadence Bank (NYSE:CADE – Get Free Report) had its price target upped by equities research analysts at Keefe, Bruyette & Woods from $32.00 to $33.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 13.13% from the stock’s previous close.
Several other analysts also recently issued reports on CADE. DA Davidson reissued a “buy” rating on shares of Cadence Bank in a research note on Monday, January 15th. Royal Bank of Canada reiterated a “sector perform” rating and set a $31.00 price objective on shares of Cadence Bank in a report on Tuesday, April 9th. Jefferies Financial Group dropped their price objective on shares of Cadence Bank from $30.00 to $29.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Barclays initiated coverage on shares of Cadence Bank in a report on Friday, March 8th. They issued an “equal weight” rating and a $28.00 target price on the stock. Finally, Raymond James decreased their target price on shares of Cadence Bank from $35.00 to $34.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cadence Bank has a consensus rating of “Moderate Buy” and an average price target of $31.00.
View Our Latest Research Report on Cadence Bank
Cadence Bank Price Performance
Cadence Bank (NYSE:CADE – Get Free Report) last announced its earnings results on Tuesday, April 23rd. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. Cadence Bank had a return on equity of 9.22% 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 in the previous year, the business earned $0.68 EPS. Cadence Bank’s revenue was up 12.6% compared to the same quarter last year. As a group, equities research analysts expect that Cadence Bank will post 2.38 earnings per share for the current year.
Institutional Investors Weigh In On Cadence Bank
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Cadence Bank by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 19,330,388 shares of the company’s stock valued at $571,986,000 after buying an additional 157,523 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Cadence Bank by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,240,127 shares of the company’s stock valued at $273,421,000 after acquiring an additional 376,989 shares in the last quarter. Wellington Management Group LLP grew its stake in Cadence Bank by 7.3% in the 4th quarter. Wellington Management Group LLP now owns 8,402,615 shares of the company’s stock valued at $248,633,000 after buying an additional 574,633 shares during the last quarter. Norges Bank bought a new position in shares of Cadence Bank in the fourth quarter worth about $60,490,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Cadence Bank by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,017,359 shares of the company’s stock worth $59,694,000 after purchasing an additional 77,563 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.
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.
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