Cadence Bank (NYSE:CADE) Rating Reiterated by Stephens

Stephens reiterated their overweight rating on shares of Cadence Bank (NYSE:CADE) in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has a $33.00 price objective on the stock.

A number of other equities analysts have also recently weighed in on the stock. Citigroup increased their price objective on shares of Cadence Bank from $27.00 to $32.00 and gave the stock a neutral rating in a research report on Friday, December 29th. TheStreet lowered shares of Cadence Bank from a b rating to a c rating in a report on Tuesday, January 30th. DA Davidson reiterated a buy rating on shares of Cadence Bank in a report on Monday, January 15th. Morgan Stanley increased their target price on shares of Cadence Bank from $24.00 to $27.00 and gave the stock an equal weight rating in a report on Wednesday, February 7th. Finally, Raymond James reduced their target price on shares of Cadence Bank from $35.00 to $34.00 and set a strong-buy rating on the stock in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $31.09.

Cadence Bank Stock Performance

NYSE:CADE opened at $29.01 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $5.30 billion, a P/E ratio of 9.27 and a beta of 1.02. The company has a 50 day moving average price of $27.74 and a 200 day moving average price of $26.60. Cadence Bank has a fifty-two week low of $16.95 and a fifty-two week high of $31.45.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $437.69 million during the quarter, compared to analysts’ expectations of $427.18 million. Cadence Bank had a net margin of 23.83% and a return on equity of 8.97%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS. Equities research analysts forecast that Cadence Bank will post 2.39 EPS for the current year.

Cadence Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, June 14th. Cadence Bank’s dividend payout ratio (DPR) is 31.95%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its position in shares of Cadence Bank by 8.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,697 shares of the company’s stock valued at $142,000 after buying an additional 524 shares during the last quarter. Sheets Smith Wealth Management grew its position in Cadence Bank by 3.8% during the 3rd quarter. Sheets Smith Wealth Management now owns 16,256 shares of the company’s stock worth $345,000 after purchasing an additional 589 shares during the last quarter. AlphaMark Advisors LLC grew its position in Cadence Bank by 6.8% during the 4th quarter. AlphaMark Advisors LLC now owns 11,482 shares of the company’s stock worth $340,000 after purchasing an additional 728 shares during the last quarter. Retirement Systems of Alabama grew its position in Cadence Bank by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 228,778 shares of the company’s stock worth $6,770,000 after purchasing an additional 754 shares during the last quarter. Finally, Arizona State Retirement System grew its position in Cadence Bank by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 52,032 shares of the company’s stock worth $1,104,000 after purchasing an additional 789 shares during the last quarter. 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.