Cadence Bank (NYSE:CADE) Rating Reiterated by Stephens

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

A number of other research analysts also recently commented on CADE. Raymond James reduced their price objective on shares of Cadence Bank from $35.00 to $34.00 and set a strong-buy rating on the stock in a research note on Wednesday, January 31st. Truist Financial increased their price objective on shares of Cadence Bank from $32.00 to $33.00 and gave the company a buy rating in a research note on Monday, April 1st. Royal Bank of Canada reiterated a sector perform rating and set a $31.00 price objective on shares of Cadence Bank in a research note on Tuesday, April 9th. TheStreet downgraded shares of Cadence Bank from a b rating to a c rating in a research note on Tuesday, January 30th. Finally, Barclays initiated coverage on shares of Cadence Bank in a research note on Friday, March 8th. They set an equal weight rating and a $28.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $31.09.

Cadence Bank Price Performance

CADE opened at $29.01 on Tuesday. The company has a fifty day simple moving average of $27.74 and a 200 day simple moving average of $26.60. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of 9.27 and a beta of 1.02. Cadence Bank has a twelve month low of $16.95 and a twelve month high of $31.45. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09.

Cadence Bank (NYSE:CADE) last released its quarterly earnings results on Friday, April 26th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The business had revenue of $437.69 million during the quarter, compared to analyst estimates of $427.18 million. Cadence Bank had a net margin of 23.83% and a return on equity of 8.97%. The business’s revenue was up 12.6% on a year-over-year basis. During the same period last year, the business earned $0.68 EPS. Equities research analysts expect that Cadence Bank will post 2.39 EPS for the current fiscal year.

Cadence Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.00 annualized dividend and a yield of 3.45%. Cadence Bank’s dividend payout ratio is presently 31.95%.

Institutional Trading of Cadence Bank

Hedge funds have recently bought and sold shares of the company. Barclays PLC lifted its position in Cadence Bank by 30.7% in the 3rd quarter. Barclays PLC now owns 528,407 shares of the company’s stock valued at $11,212,000 after purchasing an additional 124,084 shares during the last quarter. Comerica Bank acquired a new position in Cadence Bank during the 3rd quarter valued at about $5,177,000. American Century Companies Inc. increased its stake in Cadence Bank by 35.7% during the 3rd quarter. American Century Companies Inc. now owns 1,258,097 shares of the company’s stock valued at $26,697,000 after buying an additional 331,097 shares during the period. Wellington Management Group LLP increased its stake in Cadence Bank by 15.7% during the 3rd quarter. Wellington Management Group LLP now owns 7,827,982 shares of the company’s stock valued at $166,110,000 after buying an additional 1,063,055 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its stake in Cadence Bank by 81.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,532,423 shares of the company’s stock valued at $45,344,000 after buying an additional 687,025 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.