Cadence Bank (NYSE:CADE) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Cadence Bank (NYSE:CADE - Get Free Report) have received an average rating of "Moderate Buy" from the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $40.40.

A number of equities analysts have issued reports on the company. Zacks Research downgraded Cadence Bank from a "strong-buy" rating to a "hold" rating in a research note on Monday. Stephens raised their target price on Cadence Bank from $41.00 to $42.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Wall Street Zen downgraded Cadence Bank from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. DA Davidson increased their price target on Cadence Bank from $37.00 to $42.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Finally, Keefe, Bruyette & Woods raised their price objective on Cadence Bank from $40.00 to $41.00 and gave the company an "outperform" rating in a research note on Monday, July 28th.

Institutional Investors Weigh In On Cadence Bank

A number of institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its stake in shares of Cadence Bank by 312.7% during the 1st quarter. Teacher Retirement System of Texas now owns 49,592 shares of the company's stock worth $1,506,000 after purchasing an additional 37,576 shares during the period. Principal Financial Group Inc. increased its holdings in Cadence Bank by 1.2% during the first quarter. Principal Financial Group Inc. now owns 425,330 shares of the company's stock worth $12,913,000 after buying an additional 5,221 shares during the last quarter. State of Alaska Department of Revenue raised its position in Cadence Bank by 3.1% in the first quarter. State of Alaska Department of Revenue now owns 21,500 shares of the company's stock worth $652,000 after acquiring an additional 640 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Cadence Bank by 2.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 69,707 shares of the company's stock worth $2,116,000 after acquiring an additional 1,670 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Cadence Bank by 55.3% in the first quarter. GAMMA Investing LLC now owns 2,892 shares of the company's stock valued at $88,000 after acquiring an additional 1,030 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Cadence Bank Stock Up 1.0%

Shares of Cadence Bank stock traded up $0.37 during trading hours on Monday, reaching $37.71. The company's stock had a trading volume of 2,206,202 shares, compared to its average volume of 1,777,295. Cadence Bank has a one year low of $25.22 and a one year high of $40.20. The company has a market capitalization of $6.87 billion, a P/E ratio of 13.42 and a beta of 0.91. The stock's fifty day simple moving average is $35.90 and its two-hundred day simple moving average is $32.21. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.87 and a current ratio of 0.87.

Cadence Bank (NYSE:CADE - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.69 by $0.04. Cadence Bank had a net margin of 18.79% and a return on equity of 9.84%. The company had revenue of $476.32 million during the quarter, compared to the consensus estimate of $467.60 million. During the same period in the previous year, the firm posted $0.73 earnings per share. On average, research analysts forecast that Cadence Bank will post 2.94 earnings per share for the current year.

Cadence Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.275 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.10 annualized dividend and a dividend yield of 2.9%. Cadence Bank's dividend payout ratio is currently 39.15%.

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.