Cadence Bank's (CADE) Hold (C+) Rating Reiterated at Weiss Ratings

Key Points

• Cadence Bank (NYSE:CADE) has had its "hold (C+)" rating reiterated by Weiss Ratings, indicating a stable outlook from this research firm.
• Analysts from DA Davidson and Barclays have raised their price targets for Cadence Bank, with Barclays setting a new target of $46.00, reflecting a positive sentiment towards the bank's performance.
• Cadence Bank reported earnings that beat expectations, with an EPS of $0.73 for the last quarter, surpassing the consensus estimate of $0.69.

Cadence Bank (NYSE:CADE - Get Free Report)'s stock had its "hold (c+)" rating restated by research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities analysts also recently commented on the stock. DA Davidson upped their price target on shares of Cadence Bank from $37.00 to $42.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Wall Street Zen downgraded shares of Cadence Bank from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Barclays upped their price target on shares of Cadence Bank from $43.00 to $46.00 and gave the company an "overweight" rating in a research note on Wednesday. Piper Sandler increased their price objective on shares of Cadence Bank from $42.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Cadence Bank from $40.00 to $41.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Cadence Bank presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.40.

Cadence Bank Stock Performance

NYSE CADE traded up $0.45 on Wednesday, hitting $39.53. 5,204,583 shares of the stock were exchanged, compared to its average volume of 1,569,297. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.87 and a quick ratio of 0.87. The business's fifty day moving average is $36.68 and its 200 day moving average is $33.03. Cadence Bank has a 52 week low of $25.22 and a 52 week high of $40.20. The company has a market capitalization of $7.20 billion, a PE ratio of 14.07 and a beta of 0.88.

Cadence Bank (NYSE:CADE - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.73 EPS for the quarter, beating 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 firm had revenue of $476.32 million for the quarter, compared to the consensus estimate of $467.60 million. During the same period in the previous year, the company earned $0.73 earnings per share. Research analysts anticipate that Cadence Bank will post 2.94 EPS for the current fiscal year.

Institutional Trading of Cadence Bank

Hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC acquired a new stake in Cadence Bank in the 2nd quarter valued at $25,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Cadence Bank in the first quarter valued at approximately $40,000. Osaic Holdings Inc. lifted its stake in shares of Cadence Bank by 24.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,442 shares of the company's stock valued at $46,000 after buying an additional 283 shares in the last quarter. 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 valued at $51,000 after buying an additional 1,150 shares during the period. Finally, UMB Bank n.a. increased its position in shares of Cadence Bank by 169.6% during the first quarter. UMB Bank n.a. now owns 1,774 shares of the company's stock valued at $54,000 after buying an additional 1,116 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

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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