Cadence Bank (NYSE:CADE) Given Average Recommendation of “Moderate Buy” by Brokerages

Cadence Bank (NYSE:CADE) has been assigned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $38.77.

CADE has been the topic of several research analyst reports. Morgan Stanley lowered their price objective on shares of Cadence Bank from $46.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Royal Bank of Canada reiterated a “sector perform” rating and set a $38.00 price objective on shares of Cadence Bank in a research report on Friday, January 24th. Stephens reiterated an “overweight” rating and set a $42.00 price objective on shares of Cadence Bank in a research report on Thursday, January 23rd. Barclays upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $41.00 to $44.00 in a research report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Cadence Bank from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th.

Cadence Bank Stock Performance

Cadence Bank stock opened at $30.30 on Monday. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 10.94 and a beta of 0.96. Cadence Bank has a 1 year low of $26.16 and a 1 year high of $40.20. The firm’s 50 day moving average price is $33.34 and its two-hundred day moving average price is $34.03.

Cadence Bank (NYSE:CADE) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. During the same quarter in the previous year, the business posted $0.40 EPS. As a group, equities analysts predict that Cadence Bank will post 2.94 EPS for the current fiscal year.

Cadence Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Friday, March 14th. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. Cadence Bank’s payout ratio is presently 39.71%.

Institutional Investors Weigh In On Cadence Bank

Institutional investors and hedge funds have recently modified their holdings of the business. Oregon Public Employees Retirement Fund lifted its position in Cadence Bank by 0.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 37,274 shares of the company’s stock worth $1,284,000 after acquiring an additional 300 shares during the last quarter. GAMMA Investing LLC lifted its position in Cadence Bank by 19.3% during the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock worth $64,000 after acquiring an additional 301 shares during the last quarter. Ironwood Investment Management LLC lifted its position in Cadence Bank by 1.2% during the 4th quarter. Ironwood Investment Management LLC now owns 30,170 shares of the company’s stock worth $1,039,000 after acquiring an additional 354 shares during the last quarter. Arizona State Retirement System lifted its position in Cadence Bank by 0.8% during the 4th quarter. Arizona State Retirement System now owns 53,034 shares of the company’s stock worth $1,827,000 after acquiring an additional 415 shares during the last quarter. Finally, KBC Group NV lifted its position in Cadence Bank by 11.5% during the 3rd quarter. KBC Group NV now owns 5,036 shares of the company’s stock worth $160,000 after acquiring an additional 519 shares during the last quarter. 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.