Cadence Bank’s (CADE) “Overweight” Rating Reaffirmed at Stephens

Stephens reaffirmed 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 $40.00 price objective on the stock.

A number of other brokerages also recently weighed in on CADE. Morgan Stanley dropped their price objective on Cadence Bank from $46.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Hovde Group cut their price objective on shares of Cadence Bank from $40.00 to $35.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 2nd. Royal Bank of Canada reissued a “sector perform” rating and set a $38.00 target price on shares of Cadence Bank in a research report on Friday, January 24th. Barclays lowered their target price on shares of Cadence Bank from $44.00 to $38.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Citigroup increased their price objective on Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cadence Bank has an average rating of “Moderate Buy” and an average target price of $37.91.

Cadence Bank Price Performance

NYSE:CADE opened at $27.92 on Tuesday. The firm has a market cap of $5.09 billion, a PE ratio of 10.08 and a beta of 0.87. The company has a 50-day moving average of $30.15 and a 200 day moving average of $33.54. Cadence Bank has a 1-year low of $25.22 and a 1-year high of $40.20.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data on Monday, April 21st. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.07. The company had revenue of $448.55 million for the quarter, compared to analyst estimates of $451.61 million. Cadence Bank had a net margin of 18.03% and a return on equity of 9.87%. During the same period last year, the company posted $0.62 earnings per share. Sell-side analysts anticipate that Cadence Bank will post 2.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Cadence Bank

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in shares of Cadence Bank in the fourth quarter valued at about $26,000. Mather Group LLC. boosted its position in Cadence Bank by 716.2% in the fourth quarter. Mather Group LLC. now owns 808 shares of the company’s stock valued at $28,000 after buying an additional 709 shares during the last quarter. Keystone Financial Group Inc. acquired a new position in Cadence Bank in the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC raised its position in Cadence Bank by 163.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,163 shares of the company’s stock worth $40,000 after buying an additional 722 shares during the last quarter. Finally, Abound Wealth Management lifted its stake in Cadence Bank by 223.3% during the 1st quarter. Abound Wealth Management now owns 1,665 shares of the company’s stock valued at $51,000 after acquiring an additional 1,150 shares during the period. Hedge funds and other institutional investors 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.