Stephens Reaffirms “Overweight” Rating for Cadence Bank (NYSE:CADE)

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

CADE has been the topic of several other research reports. Hovde Group cut Cadence Bank from an outperform rating to a market perform rating and set a $32.50 target price on the stock. in a research report on Tuesday, January 30th. Raymond James cut their target price on 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. Citigroup lifted their price target on Cadence Bank from $27.00 to $32.00 and gave the stock a neutral rating in a report on Friday, December 29th. 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 report on Monday, April 8th. Finally, Truist Financial lifted their price target on Cadence Bank from $32.00 to $33.00 and gave the stock a buy rating in a report on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $31.09.

Cadence Bank Trading Down 1.1 %

Shares of Cadence Bank stock opened at $29.06 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. Cadence Bank has a 52 week low of $16.95 and a 52 week high of $31.45. The stock has a 50 day moving average price of $27.71 and a two-hundred day moving average price of $26.55. The stock has a market capitalization of $5.31 billion, a PE ratio of 9.28 and a beta of 1.02.

Cadence Bank (NYSE:CADE) last announced its earnings results on Tuesday, April 23rd. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. The company had revenue of $437.69 million for the quarter, compared to analysts’ expectations of $427.18 million. Cadence Bank had a return on equity of 8.97% and a net margin of 23.83%. Cadence Bank’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 earnings per share. As a group, equities analysts anticipate that Cadence Bank will post 2.39 earnings per share for the current fiscal year.

Institutional Trading of Cadence Bank

Hedge funds have recently made changes to their positions in the company. Wolverine Asset Management LLC raised its stake in shares of Cadence Bank by 952.0% in the fourth quarter. Wolverine Asset Management LLC now owns 1,052 shares of the company’s stock valued at $31,000 after buying an additional 952 shares during the period. Rise Advisors LLC bought a new stake in shares of Cadence Bank in the first quarter valued at $34,000. Fifth Third Bancorp raised its stake in shares of Cadence Bank by 165.8% in the third quarter. Fifth Third Bancorp now owns 1,451 shares of the company’s stock valued at $31,000 after buying an additional 905 shares during the period. Ronald Blue Trust Inc. raised its stake in shares of Cadence Bank by 166.6% in the third quarter. Ronald Blue Trust Inc. now owns 3,674 shares of the company’s stock valued at $72,000 after buying an additional 2,296 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Cadence Bank by 8.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,697 shares of the company’s stock valued at $142,000 after buying an additional 524 shares during the period. 84.61% of the stock is currently 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.