Cadence Bank (NYSE:CADE) Given New $38.00 Price Target at Citigroup

Cadence Bank (NYSE:CADE) had its price objective increased by investment analysts at Citigroup from $37.00 to $38.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target would indicate a potential upside of 7.66% from the stock’s previous close.

A number of other analysts also recently commented on the stock. Truist Financial boosted their price objective on shares of Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Stephens reissued an “overweight” rating and set a $42.00 price objective on shares of Cadence Bank in a report on Thursday. Royal Bank of Canada reissued a “sector perform” rating and set a $38.00 price objective on shares of Cadence Bank in a report on Friday. Finally, Morgan Stanley raised shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $36.00 to $39.00 in a report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.13.

Cadence Bank Trading Up 3.1 %

Shares of Cadence Bank stock opened at $35.30 on Monday. Cadence Bank has a 52-week low of $24.99 and a 52-week high of $40.20. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The company’s 50-day simple moving average is $35.98 and its 200-day simple moving average is $33.59. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 12.76 and a beta of 1.00.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Cadence Bank had a net margin of 18.03% and a return on equity of 9.98%. During the same quarter last year, the business earned $0.40 EPS. As a group, equities research analysts anticipate that Cadence Bank will post 2.87 earnings per share for the current year.

Hedge Funds Weigh In On Cadence Bank

Several institutional investors and hedge funds have recently bought and sold shares of CADE. V Square Quantitative Management LLC acquired a new stake in shares of Cadence Bank in the third quarter worth $25,000. Brooklyn Investment Group acquired a new stake in Cadence Bank during the 4th quarter valued at $26,000. Mather Group LLC. grew its holdings in Cadence Bank by 716.2% during the 4th quarter. Mather Group LLC. now owns 808 shares of the company’s stock valued at $28,000 after purchasing an additional 709 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Cadence Bank during the 3rd quarter valued at $32,000. Finally, GAMMA Investing LLC boosted its stake in Cadence Bank by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,561 shares of the company’s stock valued at $50,000 after acquiring an additional 559 shares during the last quarter. 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.