Cadence Bank (NYSE:CADE) Receives Average Recommendation of “Hold” from Brokerages

Cadence Bank (NYSE:CADE) has been assigned a consensus rating of “Hold” from the eleven analysts that are currently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $42.1111.

A number of analysts recently weighed in on the stock. Stephens increased their price objective on shares of Cadence Bank from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Royal Bank Of Canada increased their price objective on shares of Cadence Bank from $37.00 to $43.00 and gave the stock a “sector perform” rating in a research report on Friday, October 10th. DA Davidson increased their price objective on shares of Cadence Bank from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Barclays increased their price objective on shares of Cadence Bank from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Cadence Bank from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th.

Hedge Funds Weigh In On Cadence Bank

A number of hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its stake in shares of Cadence Bank by 24.4% in the 2nd quarter. Osaic Holdings Inc. now owns 1,442 shares of the company’s stock worth $46,000 after acquiring an additional 283 shares during the period. KLP Kapitalforvaltning AS lifted its stake in shares of Cadence Bank by 0.8% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 38,128 shares of the company’s stock worth $1,440,000 after acquiring an additional 300 shares during the period. Sheets Smith Wealth Management lifted its stake in shares of Cadence Bank by 2.1% in the 3rd quarter. Sheets Smith Wealth Management now owns 18,418 shares of the company’s stock worth $691,000 after acquiring an additional 378 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Cadence Bank by 0.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,634 shares of the company’s stock worth $1,568,000 after acquiring an additional 480 shares during the period. Finally, Xponance Inc. lifted its stake in shares of Cadence Bank by 2.3% in the 1st quarter. Xponance Inc. now owns 26,415 shares of the company’s stock worth $802,000 after acquiring an additional 587 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Cadence Bank Stock Up 4.5%

CADE opened at $38.15 on Tuesday. The firm has a 50-day simple moving average of $37.39 and a two-hundred day simple moving average of $33.87. Cadence Bank has a 52 week low of $25.22 and a 52 week high of $40.23. The company has a market capitalization of $6.95 billion, a PE ratio of 13.82 and a beta of 0.88. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.25.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings data on Monday, October 20th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. Cadence Bank had a net margin of 18.15% and a return on equity of 10.08%. The company had revenue of $517.24 million for the quarter, compared to analyst estimates of $523.60 million. During the same period in the prior year, the company posted $0.73 EPS. Analysts forecast that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 15th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, December 15th. Cadence Bank’s dividend payout ratio is currently 39.86%.

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.