Cadence Bank (NYSE:CADE) Price Target Increased to $30.00 by Analysts at Barclays

Cadence Bank (NYSE:CADE) had its target price raised by Barclays from $29.00 to $30.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential upside of 8.26% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Stephens reaffirmed an “overweight” rating and issued a $33.00 price target on shares of Cadence Bank in a research report on Tuesday, April 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $31.00 target price on shares of Cadence Bank in a research report on Tuesday, April 9th. Truist Financial increased their target price on shares of Cadence Bank from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Hovde Group raised shares of Cadence Bank from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $32.50 to $33.00 in a report on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Cadence Bank from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Five investment 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 stock. According to MarketBeat.com, Cadence Bank currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.18.

Cadence Bank Price Performance

Shares of CADE stock opened at $27.71 on Monday. The company’s 50-day simple moving average is $28.29 and its two-hundred day simple moving average is $28.18. Cadence Bank has a one year low of $18.97 and a one year high of $31.45. The company has a market capitalization of $5.05 billion, a P/E ratio of 8.85 and a beta of 0.99. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. Cadence Bank had a net margin of 23.83% and a return on equity of 8.97%. The firm had revenue of $437.69 million during the quarter, compared to analysts’ expectations of $427.18 million. During the same quarter in the prior year, the company earned $0.68 EPS. The company’s revenue was up 12.6% compared to the same quarter last year. As a group, equities analysts anticipate that Cadence Bank will post 2.48 EPS for the current year.

Institutional Trading of Cadence Bank

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CADE. Wolverine Asset Management LLC grew its position in Cadence Bank by 952.0% during 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 acquired a new stake in Cadence Bank during the first quarter valued at $34,000. Argent Advisors Inc. purchased a new position in Cadence Bank during the first quarter valued at $204,000. Moody Lynn & Lieberson LLC purchased a new position in Cadence Bank during the fourth quarter valued at $205,000. Finally, Lavaca Capital LLC purchased a new position in Cadence Bank during the first quarter valued at $207,000. 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.