Cadence Bank (NYSE:CADE – Get Free Report) had its price target upped by equities researchers at Hovde Group from $33.00 to $36.50 in a report issued on Wednesday, MarketBeat.com reports. The brokerage currently has an “outperform” rating on the stock. Hovde Group’s price objective would indicate a potential upside of 9.38% from the company’s previous close.
A number of other equities analysts also recently weighed in on CADE. Stephens reissued an “overweight” rating and set a $35.00 target price on shares of Cadence Bank in a research note on Tuesday. Keefe, Bruyette & Woods boosted their price objective on Cadence Bank from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Jefferies Financial Group reduced their price objective on shares of Cadence Bank from $31.00 to $29.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Truist Financial lowered their target price on Cadence Bank from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $31.00 price target on shares of Cadence Bank in a research note on Tuesday, April 9th. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.79.
Get Our Latest Stock Report on CADE
Cadence Bank Trading Up 0.8 %
Cadence Bank (NYSE:CADE – Get Free Report) last issued its quarterly earnings data on Monday, July 22nd. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08. The business had revenue of $742.87 million for the quarter, compared to analyst estimates of $439.63 million. Cadence Bank had a return on equity of 9.00% and a net margin of 24.42%. During the same quarter in the previous year, the company posted $0.64 EPS. Equities analysts predict that Cadence Bank will post 2.48 EPS for the current fiscal year.
Institutional Trading of Cadence Bank
Hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. raised its stake in shares of Cadence Bank by 79.5% during the fourth quarter. Pacer Advisors Inc. now owns 27,460 shares of the company’s stock valued at $813,000 after acquiring an additional 12,158 shares during the last quarter. Precedent Wealth Partners LLC bought a new stake in shares of Cadence Bank during the 4th quarter valued at about $223,000. AlphaMark Advisors LLC boosted its stake in shares of 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 acquiring an additional 728 shares during the last quarter. Stonegate Investment Group LLC bought a new stake in Cadence Bank during the fourth quarter valued at about $258,000. Finally, Moody Lynn & Lieberson LLC bought a new stake in Cadence Bank during the 4th quarter worth approximately $205,000. Institutional investors 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.
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