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

Shares of Cadence Bank (NYSE:CADE - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eleven brokerages that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $37.27.

Several research analysts have commented on CADE shares. Morgan Stanley dropped their price objective on shares of Cadence Bank from $46.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. DA Davidson cut their price target on Cadence Bank from $42.00 to $37.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Stephens reaffirmed an "overweight" rating and set a $40.00 price objective on shares of Cadence Bank in a report on Tuesday, April 22nd. Hovde Group raised their target price on shares of Cadence Bank from $32.00 to $34.00 and gave the company an "outperform" rating in a report on Tuesday, April 29th. Finally, Citigroup upped their price target on shares of Cadence Bank from $37.00 to $38.00 and gave the company a "neutral" rating in a research note on Monday, January 27th.

Hedge Funds Weigh In On Cadence Bank

A number of large investors have recently bought and sold shares of CADE. Brooklyn Investment Group purchased a new stake in shares of Cadence Bank during the fourth quarter valued at $26,000. Mather Group LLC. lifted its holdings in Cadence Bank by 716.2% during the 4th quarter. Mather Group LLC. now owns 808 shares of the company's stock valued at $28,000 after buying an additional 709 shares in the last quarter. Keystone Financial Group Inc. purchased a new stake in Cadence Bank in the 4th quarter valued at about $31,000. Smartleaf Asset Management LLC grew its stake in Cadence Bank by 163.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company's stock worth $40,000 after acquiring an additional 722 shares in the last quarter. Finally, Abound Wealth Management increased its position in shares of Cadence Bank by 223.3% during the first quarter. Abound Wealth Management now owns 1,665 shares of the company's stock worth $51,000 after acquiring an additional 1,150 shares during the period. Hedge funds and other institutional investors own 84.61% of the company's stock.

Cadence Bank Stock Down 0.1 %

NYSE CADE opened at $30.25 on Tuesday. Cadence Bank has a twelve month low of $25.22 and a twelve month high of $40.20. The business has a 50-day moving average price of $29.42 and a 200-day moving average price of $33.37. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 10.92 and a beta of 0.84.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.07. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. The business had revenue of $448.55 million during the quarter, compared to analyst estimates of $451.61 million. During the same period last year, the firm posted $0.62 EPS. Research analysts expect that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank announced that its Board of Directors has initiated a share buyback program on Friday, April 25th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Cadence Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.10 annualized dividend and a dividend yield of 3.64%. Cadence Bank's dividend payout ratio (DPR) 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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