Stephens Reiterates Overweight Rating for Cadence Bank (NYSE:CADE)

Stephens reissued their overweight rating on shares of Cadence Bank (NYSE:CADE) in a research note issued to investors on Thursday morning,Benzinga reports. Stephens currently has a $42.00 price target on the stock.

Several other equities analysts have also recently commented on CADE. Royal Bank of Canada lifted their target price on shares of Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Barclays upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $41.00 to $44.00 in a report on Thursday, December 19th. Truist Financial upped their price objective on Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Morgan Stanley upgraded Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $36.00 to $39.00 in a research note on Monday, September 30th. Finally, DA Davidson increased their price target on shares of Cadence Bank from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.95.

Cadence Bank Trading Down 4.8 %

Shares of Cadence Bank stock opened at $34.19 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $36.03 and a 200 day simple moving average of $33.47. Cadence Bank has a 12-month low of $24.99 and a 12-month high of $40.20. The company has a market capitalization of $6.23 billion, a P/E ratio of 9.82 and a beta of 1.00.

Cadence Bank (NYSE:CADE) last posted its earnings results on Wednesday, January 22nd. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. Cadence Bank had a net margin of 25.99% and a return on equity of 8.95%. During the same period last year, the business posted $0.40 earnings per share. On average, sell-side analysts anticipate that Cadence Bank will post 2.71 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.275 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.10 annualized dividend and a dividend yield of 3.22%. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s payout ratio is 28.74%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in Cadence Bank by 19.3% during the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock valued at $64,000 after acquiring an additional 301 shares during the period. KBC Group NV grew its position in shares of Cadence Bank by 11.5% in the third quarter. KBC Group NV now owns 5,036 shares of the company’s stock valued at $160,000 after purchasing an additional 519 shares in the last quarter. Algert Global LLC raised its stake in shares of Cadence Bank by 2.8% during the 3rd quarter. Algert Global LLC now owns 18,920 shares of the company’s stock valued at $603,000 after purchasing an additional 522 shares during the period. HighTower Advisors LLC lifted its holdings in Cadence Bank by 1.4% during the 3rd quarter. HighTower Advisors LLC now owns 43,940 shares of the company’s stock worth $1,406,000 after purchasing an additional 599 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its stake in Cadence Bank by 3.5% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 20,970 shares of the company’s stock worth $722,000 after purchasing an additional 715 shares during the period. 84.61% of the stock is 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.