Cadence Bank (NYSE:CADE) Price Target Raised to $40.00 at DA Davidson

Cadence Bank (NYSE:CADE) had its price objective raised by DA Davidson from $36.00 to $40.00 in a report published on Wednesday, Benzinga reports. DA Davidson currently has a buy rating on the stock.

Several other equities analysts have also weighed in on CADE. Hovde Group increased their price objective on shares of Cadence Bank from $33.00 to $36.50 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Barclays increased their price target on Cadence Bank from $35.00 to $37.00 and gave the company an “equal weight” rating in a research note on Wednesday. Truist Financial lifted their price objective on Cadence Bank from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada boosted their price objective on shares of Cadence Bank from $31.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, July 24th. Finally, Piper Sandler downgraded Cadence Bank from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $33.00 to $34.00 in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cadence Bank presently has an average rating of “Moderate Buy” and a consensus target price of $35.29.

Cadence Bank Stock Down 0.5 %

Shares of CADE opened at $33.82 on Wednesday. The business’s fifty day moving average price is $31.71 and its two-hundred day moving average price is $29.91. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 10.81 and a beta of 0.96. Cadence Bank has a 52 week low of $19.94 and a 52 week high of $34.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.86 and a current ratio of 0.86.

Cadence Bank (NYSE:CADE) last announced its quarterly earnings data on Monday, October 21st. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.09. Cadence Bank had a return on equity of 8.82% and a net margin of 24.42%. The firm had revenue of $447.36 million during the quarter, compared to analysts’ expectations of $450.97 million. During the same period in the previous year, the business posted $0.56 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, analysts predict that Cadence Bank will post 2.57 earnings per share for the current year.

Institutional Trading of Cadence Bank

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its stake in Cadence Bank by 77.0% in the second quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock valued at $28,000 after acquiring an additional 436 shares during the last quarter. AlphaMark Advisors LLC grew its stake in shares of Cadence Bank by 5.6% in the second quarter. AlphaMark Advisors LLC now owns 10,870 shares of the company’s stock valued at $307,000 after acquiring an additional 579 shares in the last quarter. Retirement Systems of Alabama grew its position in shares of Cadence Bank by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 229,380 shares of the company’s stock worth $6,652,000 after purchasing an additional 602 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Cadence Bank by 0.3% during the 1st quarter. Russell Investments Group Ltd. now owns 230,377 shares of the company’s stock worth $6,681,000 after acquiring an additional 689 shares during the period. Finally, V Square Quantitative Management LLC bought a new position in shares of Cadence Bank in the third quarter worth $25,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

About Cadence Bank

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.