Cadence Bank (NYSE:CADE) Receives Average Rating of "Moderate Buy" from Analysts

Cadence Bank (NYSE:CADE - Get Free Report) has been given an average rating of "Moderate Buy" by the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $36.82.

A number of research analysts have weighed in on CADE shares. Keefe, Bruyette & Woods boosted their price objective on shares of Cadence Bank from $38.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Wall Street Zen cut shares of Cadence Bank from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Hovde Group boosted their price objective on shares of Cadence Bank from $32.00 to $34.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Stephens reiterated an "overweight" rating and set a $40.00 price objective on shares of Cadence Bank in a research report on Tuesday, April 22nd. Finally, Royal Bank Of Canada cut their price objective on shares of Cadence Bank from $38.00 to $33.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CADE. Norges Bank bought a new stake in shares of Cadence Bank in the 4th quarter valued at about $71,915,000. Wellington Management Group LLP boosted its holdings in shares of Cadence Bank by 7.8% in the 1st quarter. Wellington Management Group LLP now owns 13,481,585 shares of the company's stock valued at $409,301,000 after buying an additional 980,369 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Cadence Bank by 846.1% in the 4th quarter. Millennium Management LLC now owns 1,052,906 shares of the company's stock valued at $36,273,000 after buying an additional 941,613 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Cadence Bank by 1,802.4% in the 1st quarter. AQR Capital Management LLC now owns 764,776 shares of the company's stock valued at $22,790,000 after buying an additional 724,576 shares in the last quarter. Finally, Boston Partners bought a new stake in shares of Cadence Bank in the 4th quarter valued at about $24,834,000. 84.61% of the stock is currently owned by institutional investors.

Cadence Bank Price Performance

Cadence Bank stock opened at $31.44 on Wednesday. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 11.03 and a beta of 0.84. The firm's fifty day moving average is $30.26 and its 200 day moving average is $31.97. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.10. Cadence Bank has a 52-week low of $25.22 and a 52-week high of $40.20.

Cadence Bank (NYSE:CADE - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.07. Cadence Bank had a net margin of 18.83% and a return on equity of 9.95%. The business had revenue of $448.55 million for the quarter, compared to analysts' expectations of $451.61 million. During the same quarter in the previous year, the business posted $0.62 earnings per share. Sell-side analysts forecast that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank declared that its board has approved a share buyback program on Friday, April 25th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Cadence Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, June 13th. Cadence Bank's payout ratio is presently 38.60%.

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.

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