Cadence Bank (NYSE:CADE – Get Free Report) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $34.88.
CADE has been the topic of several analyst reports. Hovde Group raised their target price on Cadence Bank from $33.00 to $36.50 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Truist Financial cut their target price on shares of Cadence Bank from $38.00 to $37.00 and set a “buy” rating for the company in a report on Friday, September 20th. Barclays increased their price target on shares of Cadence Bank from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Jefferies Financial Group cut their price objective on shares of Cadence Bank from $31.00 to $29.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Finally, DA Davidson increased their target price on shares of Cadence Bank from $34.50 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th.
Check Out Our Latest Research Report on CADE
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Cadence Bank Stock Performance
Shares of NYSE CADE opened at $33.50 on Friday. The company has a 50 day simple moving average of $31.40 and a two-hundred day simple moving average of $29.75. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 10.70 and a beta of 0.96. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.05. Cadence Bank has a 12 month low of $19.67 and a 12 month high of $34.13.
Cadence Bank (NYSE:CADE – Get Free Report) last posted its quarterly earnings results on Monday, July 22nd. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.61 by $0.08. The company had revenue of $742.87 million for the quarter, compared to analyst estimates of $439.63 million. Cadence Bank had a net margin of 24.42% and a return on equity of 8.82%. During the same period in the prior year, the company earned $0.64 earnings per share. As a group, analysts predict that Cadence Bank will post 2.57 earnings per share for the current year.
Cadence Bank Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Friday, September 13th. Cadence Bank’s payout ratio is 31.95%.
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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