Shares of Cadence Bank (NYSE:CADE – Get Rating) have earned a consensus recommendation of “Buy” from the seven research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $31.33.
A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group cut their price objective on shares of Cadence Bank from $28.00 to $26.00 in a research note on Monday, July 11th. Raymond James cut their price objective on shares of Cadence Bank from $35.00 to $32.00 and set a “strong-buy” rating on the stock in a research note on Thursday, July 7th. Piper Sandler lowered their target price on Cadence Bank to $33.00 in a report on Monday, July 4th. Truist Financial lowered their target price on Cadence Bank from $32.00 to $30.00 in a report on Wednesday, June 15th. Finally, TheStreet raised Cadence Bank from a “c+” rating to a “b-” rating in a report on Friday, May 27th.
Cadence Bank Stock Performance
CADE stock opened at $25.92 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 15.16 and a beta of 1.06. Cadence Bank has a 1 year low of $22.04 and a 1 year high of $34.24. The stock’s fifty day moving average is $25.65 and its two-hundred day moving average is $26.40.
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Cadence Bank (NYSE:CADE – Get Rating) last issued its quarterly earnings data on Monday, July 25th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. Cadence Bank had a net margin of 17.35% and a return on equity of 11.07%. The business had revenue of $450.00 million for the quarter, compared to analysts’ expectations of $443.43 million. During the same period in the previous year, the business earned $0.86 earnings per share. On average, research analysts predict that Cadence Bank will post 2.92 EPS for the current year.
Cadence Bank Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.40%. Cadence Bank’s payout ratio is 51.46%.
Institutional Investors Weigh In On Cadence Bank
Several large investors have recently made changes to their positions in CADE. Advisor Group Holdings Inc. grew its stake in shares of Cadence Bank by 511.5% in the 4th quarter. Advisor Group Holdings Inc. now owns 10,114 shares of the company’s stock valued at $301,000 after buying an additional 8,460 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in Cadence Bank during the fourth quarter worth approximately $946,000. AlphaCrest Capital Management LLC bought a new stake in Cadence Bank during the fourth quarter worth approximately $457,000. Aviva PLC bought a new stake in Cadence Bank during the fourth quarter worth approximately $1,088,000. Finally, Teacher Retirement System of Texas boosted its position in Cadence Bank by 91.7% during the fourth quarter. Teacher Retirement System of Texas now owns 37,405 shares of the company’s stock worth $1,114,000 after purchasing an additional 17,894 shares during the period.
Cadence Bank Company Profile
(Get Rating)
Cadence Bank provides commercial banking and financial services in the United States. 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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