Cadence Bank (NYSE:CADE) Stock Rating Reaffirmed by Royal Bank of Canada

Cadence Bank (NYSE:CADE - Get Free Report)'s stock had its "sector perform" rating restated by equities researchers at Royal Bank of Canada in a research note issued on Tuesday, Benzinga reports. They presently have a $31.00 price target on the stock. Royal Bank of Canada's price target would suggest a potential upside of 8.81% from the stock's previous close.

A number of other equities analysts also recently issued reports on the company. TheStreet downgraded Cadence Bank from a "b" rating to a "c" rating in a report on Tuesday, January 30th. Hovde Group downgraded Cadence Bank from an "outperform" rating to a "market perform" rating and set a $32.50 price objective for the company. in a report on Tuesday, January 30th. Barclays began coverage on Cadence Bank in a report on Friday, March 8th. They issued an "equal weight" rating and a $28.00 price objective for the company. Raymond James cut their target price on Cadence Bank from $35.00 to $34.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, January 31st. Finally, Truist Financial increased their target price on Cadence Bank from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Monday, April 1st. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $30.65.

Cadence Bank Trading Up 1.3 %

Shares of Cadence Bank stock traded up $0.36 during midday trading on Tuesday, reaching $28.49. 1,100,040 shares of the company's stock traded hands, compared to its average volume of 1,390,070. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market cap of $5.20 billion, a PE ratio of 9.84 and a beta of 1.02. The stock has a 50 day moving average of $27.44 and a 200-day moving average of $26.03. Cadence Bank has a 12 month low of $16.95 and a 12 month high of $31.45.

Cadence Bank (NYSE:CADE - Get Free Report) last announced its earnings results on Monday, January 29th. The company reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.13). The business had revenue of $23.15 million for the quarter, compared to the consensus estimate of $433.99 million. Cadence Bank had a net margin of 23.33% and a return on equity of 9.55%. As a group, equities analysts expect that Cadence Bank will post 2.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Cadence Bank

Several institutional investors have recently modified their holdings of CADE. Householder Group Estate & Retirement Specialist LLC purchased a new position in Cadence Bank in the third quarter worth about $25,000. State of Wyoming purchased a new position in Cadence Bank in the fourth quarter worth about $25,000. Fifth Third Bancorp boosted its position in Cadence Bank by 165.8% in the third quarter. Fifth Third Bancorp now owns 1,451 shares of the company's stock worth $31,000 after purchasing an additional 905 shares during the last quarter. Wolverine Asset Management LLC boosted its position in Cadence Bank by 952.0% in the fourth quarter. Wolverine Asset Management LLC now owns 1,052 shares of the company's stock worth $31,000 after purchasing an additional 952 shares during the last quarter. Finally, Rise Advisors LLC purchased a new position in Cadence Bank in the first quarter worth about $34,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

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.