Cadence Bank (NYSE:CADE) Given Consensus Rating of “Moderate Buy” by Analysts

Cadence Bank (NYSE:CADE) has been assigned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $38.50.

Several research firms have weighed in on CADE. DA Davidson upped their target price on Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $38.00 target price on shares of Cadence Bank in a research note on Friday, January 24th. Truist Financial upped their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Stephens restated an “overweight” rating and set a $42.00 price objective on shares of Cadence Bank in a report on Thursday, January 23rd. Finally, Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $41.00 to $44.00 in a report on Thursday, December 19th.

Cadence Bank Stock Down 1.3 %

Shares of NYSE:CADE opened at $34.04 on Thursday. Cadence Bank has a fifty-two week low of $26.16 and a fifty-two week high of $40.20. The firm’s 50-day simple moving average is $34.96 and its 200-day simple moving average is $33.96. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 12.29 and a beta of 0.99.

Cadence Bank (NYSE:CADE) last issued its earnings results on Wednesday, January 22nd. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. During the same quarter last year, the company posted $0.40 EPS. On average, research analysts forecast that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Friday, March 14th. This is a boost from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s payout ratio is currently 36.10%.

Institutional Investors Weigh In On Cadence Bank

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new stake in Cadence Bank in the third quarter valued at approximately $5,511,000. Moody Aldrich Partners LLC boosted its stake in shares of Cadence Bank by 28.6% in the third quarter. Moody Aldrich Partners LLC now owns 294,932 shares of the company’s stock valued at $9,394,000 after purchasing an additional 65,595 shares during the period. Moody Lynn & Lieberson LLC acquired a new stake in Cadence Bank during the 3rd quarter valued at $220,000. State of Alaska Department of Revenue increased its stake in Cadence Bank by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 21,160 shares of the company’s stock worth $673,000 after buying an additional 1,435 shares during the period. Finally, Leuthold Group LLC purchased a new stake in Cadence Bank during the 3rd quarter worth $2,743,000. 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.