Cadence Bank (NYSE:CADE) Receives $42.88 Average Target Price from Brokerages

Cadence Bank (NYSE:CADE) has earned a consensus recommendation of “Hold” from the ten analysts that are presently covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $42.8750.

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cadence Bank in a report on Wednesday, January 21st.

Cadence Bank Stock Down 1.6%

Shares of NYSE:CADE opened at $42.14 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $43.07 and a two-hundred day simple moving average of $40.18. Cadence Bank has a 12-month low of $25.22 and a 12-month high of $46.74. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of 14.94 and a beta of 0.95.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings results on Thursday, January 22nd. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.06. The firm had revenue of $528.41 million during the quarter, compared to the consensus estimate of $525.15 million. Cadence Bank had a return on equity of 10.16% and a net margin of 18.12%.During the same period last year, the company earned $0.70 earnings per share. On average, research analysts anticipate that Cadence Bank will post 2.94 earnings per share for the current fiscal year.

Cadence Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, January 30th were issued a $0.3438 dividend. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, January 30th. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.28. Cadence Bank’s dividend payout ratio is 39.01%.

Hedge Funds Weigh In On Cadence Bank

Hedge funds have recently bought and sold shares of the business. Mather Group LLC. purchased a new stake in shares of Cadence Bank during the 3rd quarter valued at about $26,000. Advisory Services Network LLC bought a new position in Cadence Bank during the third quarter valued at approximately $32,000. Community Bank N.A. purchased a new stake in Cadence Bank in the third quarter worth approximately $35,000. Wilmington Savings Fund Society FSB bought a new stake in Cadence Bank in the 3rd quarter worth approximately $38,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in Cadence Bank during the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Cadence Bank Company Profile

Cadence Bank (NYSE: CADE) is a regional commercial bank that offers a full suite of financial services to individuals, businesses and government entities. Through its network of branches and digital platforms, the bank provides deposit accounts, treasury management solutions, commercial and industrial lending, equipment finance, residential and consumer mortgages, and wealth management services. Cadence Bank serves a mix of small and mid-size companies as well as retail customers in its core markets.

The institution traces its heritage to Cadence Bancorporation, which was established in 1987 in Tupelo, Mississippi.