Cadence Bank (NYSE:CADE) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Cadence Bank (NYSE:CADE) have been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $38.77.

Several equities analysts have weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and set a $38.00 price objective on shares of Cadence Bank in a research note on Friday, January 24th. Barclays raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $41.00 to $44.00 in a research report on Thursday, December 19th. Citigroup upped their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods boosted their target price on Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley decreased their price target on Cadence Bank from $46.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday.

Cadence Bank Price Performance

Shares of NYSE CADE opened at $29.85 on Monday. Cadence Bank has a 1 year low of $26.16 and a 1 year high of $40.20. The stock has a market capitalization of $5.44 billion, a P/E ratio of 10.78 and a beta of 0.96. The company has a 50-day moving average price of $33.78 and a 200-day moving average price of $34.09.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data 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 return on equity of 9.87% and a net margin of 18.03%. During the same period in the prior year, the firm earned $0.40 earnings per share. As a group, equities research analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.10 annualized dividend and a yield of 3.69%. This is an increase from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s dividend payout ratio (DPR) is currently 39.71%.

Institutional Investors Weigh In On Cadence Bank

Several hedge funds and other institutional investors have recently modified their holdings of CADE. KBC Group NV grew its stake in Cadence Bank by 11.5% during the third quarter. KBC Group NV now owns 5,036 shares of the company’s stock valued at $160,000 after acquiring an additional 519 shares in the last quarter. Natixis Advisors LLC grew its position in shares of Cadence Bank by 15.9% during the 3rd quarter. Natixis Advisors LLC now owns 486,122 shares of the company’s stock valued at $15,483,000 after purchasing an additional 66,747 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Cadence Bank by 16.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,083,518 shares of the company’s stock worth $66,360,000 after purchasing an additional 291,885 shares during the period. Atlanta Consulting Group Advisors LLC bought a new position in shares of Cadence Bank in the third quarter worth $220,000. Finally, MAI Capital Management raised its position in shares of Cadence Bank by 132.9% in the third quarter. MAI Capital Management now owns 41,685 shares of the company’s stock worth $1,328,000 after buying an additional 23,790 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

About Cadence Bank

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.