Barclays Increases Cadence Bank (NYSE:CADE) Price Target to $35.00

Cadence Bank (NYSE:CADE) had its price objective raised by investment analysts at Barclays from $33.00 to $35.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 11.89% from the company’s current price.

CADE has been the topic of a number of other research reports. Truist Financial cut their price target on Cadence Bank from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, September 20th. Stephens reaffirmed an “overweight” rating and set a $35.00 target price on shares of Cadence Bank in a research note on Tuesday, July 23rd. Royal Bank of Canada increased their price target on Cadence Bank from $31.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. Hovde Group lifted their price objective on shares of Cadence Bank from $33.00 to $36.50 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Piper Sandler cut shares of Cadence Bank from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $33.00 to $34.00 in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cadence Bank has an average rating of “Moderate Buy” and a consensus price target of $34.63.

Cadence Bank Trading Down 1.1 %

NYSE CADE opened at $31.28 on Friday. The company’s fifty day moving average price is $31.35 and its two-hundred day moving average price is $29.39. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 9.99 and a beta of 0.97. Cadence Bank has a 12 month low of $19.67 and a 12 month high of $34.13. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.86 and a quick ratio of 0.86.

Cadence Bank (NYSE:CADE) last issued its earnings results on Monday, July 22nd. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.08. The business had revenue of $742.87 million for the quarter, compared to analyst estimates of $439.63 million. Cadence Bank had a net margin of 24.42% and a return on equity of 8.82%. During the same quarter in the prior year, the business posted $0.64 EPS. As a group, research analysts predict that Cadence Bank will post 2.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cadence Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its position in Cadence Bank by 19.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,488 shares of the company’s stock valued at $429,000 after buying an additional 2,376 shares during the last quarter. UBS Group AG boosted its holdings in Cadence Bank by 239.6% during the fourth quarter. UBS Group AG now owns 250,433 shares of the company’s stock worth $7,410,000 after purchasing an additional 176,681 shares during the last quarter. Corient Private Wealth LLC grew its position in Cadence Bank by 18.2% in the fourth quarter. Corient Private Wealth LLC now owns 23,394 shares of the company’s stock valued at $692,000 after purchasing an additional 3,598 shares in the last quarter. Hsbc Holdings PLC increased its stake in Cadence Bank by 22.5% in the 4th quarter. Hsbc Holdings PLC now owns 394,845 shares of the company’s stock valued at $11,801,000 after buying an additional 72,576 shares during the last quarter. Finally, TFO Wealth Partners LLC boosted its stake in shares of Cadence Bank by 162,585.7% during the 4th quarter. TFO Wealth Partners LLC now owns 11,388 shares of the company’s stock worth $337,000 after buying an additional 11,381 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

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.