Cadence Bank (NYSE:CADE) Rating Reiterated by Stephens

Cadence Bank (NYSE:CADE)‘s stock had its “overweight” rating reissued by equities researchers at Stephens in a report released on Tuesday, Benzinga reports. They currently have a $33.00 price target on the stock. Stephens’ price target would indicate a potential upside of 15.71% from the stock’s current price.

A number of other equities analysts also recently issued reports on CADE. Raymond James dropped their price target on 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. Citigroup raised their price target on Cadence Bank from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, December 29th. TheStreet downgraded Cadence Bank from a “b” rating to a “c” rating in a research note on Tuesday, January 30th. DA Davidson reiterated a “buy” rating on shares of Cadence Bank in a research report on Monday, January 15th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $31.00 target price on shares of Cadence Bank in a research report on Tuesday, April 9th. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.75.

Cadence Bank Stock Up 2.8 %

Shares of CADE traded up $0.78 on Tuesday, reaching $28.52. The stock had a trading volume of 529,840 shares, compared to its average volume of 1,359,007. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 9.86 and a beta of 1.02. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.86. The company has a 50-day simple moving average of $27.56 and a 200-day simple moving average of $26.46. Cadence Bank has a 12-month low of $16.95 and a 12-month high of $31.45.

Cadence Bank (NYSE:CADE) last released its earnings results on Monday, April 22nd. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $437.69 million during the quarter, compared to analysts’ expectations of $427.18 million. Cadence Bank had a return on equity of 9.55% and a net margin of 23.33%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. Sell-side analysts predict that Cadence Bank will post 2.38 EPS for the current year.

Hedge Funds Weigh In On Cadence Bank

Several institutional investors and hedge funds have recently added to or reduced their stakes in CADE. Ronald Blue Trust Inc. boosted its holdings in Cadence Bank by 166.6% in the third quarter. Ronald Blue Trust Inc. now owns 3,674 shares of the company’s stock worth $72,000 after acquiring an additional 2,296 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Cadence Bank by 109.1% in the third quarter. SG Americas Securities LLC now owns 82,899 shares of the company’s stock valued at $1,759,000 after buying an additional 43,252 shares in the last quarter. Sheets Smith Wealth Management increased its position in shares of Cadence Bank by 3.8% in the third quarter. Sheets Smith Wealth Management now owns 16,256 shares of the company’s stock valued at $345,000 after buying an additional 589 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cadence Bank by 19.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,966 shares of the company’s stock valued at $806,000 after buying an additional 6,259 shares in the last quarter. Finally, Strs Ohio increased its position in shares of Cadence Bank by 12.1% in the third quarter. Strs Ohio now owns 15,700 shares of the company’s stock valued at $333,000 after buying an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors 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.