According to Zacks, “Cadence Bank provides consumers, businesses and corporations with banking and financial solutions. The company’s services and products include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialized lending, asset-based lending, commercial real estate, equipment financing, correspondent banking, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning, retirement plan management, and personal and business insurance. Cadence Bank, formerly known as BancorpSouth Bank, is based in TUPELO, Miss. “
Several other brokerages also recently weighed in on CADE. Janney Montgomery Scott upgraded Cadence Bancorporation from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Thursday, December 9th. Truist Financial started coverage on Cadence Bancorporation in a report on Monday, November 1st. They set a “buy” rating and a $35.00 price target on the stock. Piper Sandler upgraded Cadence Bancorporation from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $34.00 to $40.00 in a report on Thursday, November 4th. Finally, Raymond James upped their price objective on Cadence Bancorporation from $36.00 to $40.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $32.50.
Shares of Cadence Bancorporation stock traded up $0.25 during trading hours on Friday, hitting $30.79. The company’s stock had a trading volume of 2,198,754 shares, compared to its average volume of 1,369,592. Cadence Bancorporation has a twelve month low of $27.25 and a twelve month high of $34.24. The firm has a fifty day moving average of $30.82 and a 200-day moving average of $25.40. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 11.16 and a beta of 1.12. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.63 and a current ratio of 0.64.
Cadence Bancorporation (NYSE:CADE) last announced its quarterly earnings results on Tuesday, January 25th. The company reported ($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.71). Cadence Bancorporation had a net margin of 26.11% and a return on equity of 11.45%. During the same period last year, the business posted $0.69 earnings per share. On average, sell-side analysts expect that Cadence Bancorporation will post 2.77 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC acquired a new stake in Cadence Bancorporation during the 2nd quarter worth approximately $25,000. Founders Capital Management acquired a new stake in Cadence Bancorporation during the 4th quarter worth approximately $30,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Cadence Bancorporation during the 2nd quarter worth approximately $42,000. Signaturefd LLC lifted its position in Cadence Bancorporation by 1,920.4% during the 4th quarter. Signaturefd LLC now owns 1,980 shares of the company’s stock worth $59,000 after acquiring an additional 1,882 shares during the period. Finally, KBC Group NV acquired a new stake in Cadence Bancorporation during the 3rd quarter worth approximately $78,000. 68.67% of the stock is owned by hedge funds and other institutional investors.
About Cadence Bancorporation
Cadence Bank provides banking and financial solutions to consumers, businesses and corporations. Its services and products include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, lending, asset-based lending, commercial real estate, equipment financing, correspondent banking, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning, retirement plan management, and personal and business insurance.
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