Barclays Increases Cadence Bank (NYSE:CADE) Price Target to $37.00

Cadence Bank (NYSE:CADE) had its price objective upped by Barclays from $35.00 to $37.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 8.82% from the stock’s current price.

Other research analysts have also issued research reports about the company. Truist Financial decreased their target price on Cadence Bank from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Royal Bank of Canada boosted their price target on Cadence Bank from $31.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th. DA Davidson boosted their target price on Cadence Bank from $34.50 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Stephens reaffirmed an “overweight” rating and issued a $35.00 price objective on shares of Cadence Bank in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group dropped their price target on Cadence Bank from $31.00 to $29.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.04.

Cadence Bank Trading Up 4.7 %

CADE stock opened at $34.00 on Wednesday. Cadence Bank has a 52 week low of $19.67 and a 52 week high of $34.18. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 10.86 and a beta of 0.96. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $31.62 and a 200-day simple moving average of $29.88.

Cadence Bank (NYSE:CADE) last posted its earnings results on Monday, October 21st. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.09. The business had revenue of $447.36 million during the quarter, compared to analyst estimates of $450.97 million. Cadence Bank had a return on equity of 8.82% and a net margin of 24.42%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. On average, equities research analysts expect that Cadence Bank will post 2.57 EPS for the current year.

Institutional Investors Weigh In On Cadence Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in shares of Cadence Bank by 77.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock worth $28,000 after buying an additional 436 shares during the period. AlphaMark Advisors LLC increased its stake in Cadence Bank by 5.6% in the second quarter. AlphaMark Advisors LLC now owns 10,870 shares of the company’s stock valued at $307,000 after purchasing an additional 579 shares in the last quarter. Retirement Systems of Alabama raised its holdings in Cadence Bank by 0.3% in the first quarter. Retirement Systems of Alabama now owns 229,380 shares of the company’s stock worth $6,652,000 after purchasing an additional 602 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Cadence Bank by 0.3% during the first quarter. Russell Investments Group Ltd. now owns 230,377 shares of the company’s stock worth $6,681,000 after purchasing an additional 689 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in shares of Cadence Bank in the 3rd quarter valued at $25,000. Institutional investors own 84.61% of the company’s stock.

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.