9. INDUSTRY, INNOVATION, AND INFRASTRUCTURE

Truist Financial Cuts Cadence Bank (NYSE:CADE) Price Target to $30.00 – MarketBeat

Written by Amanda

Truist Financial Cuts Cadence Bank (NYSE:CADE) Price Target to $30.00  MarketBeat

Cadence Bank (NYSE:CADEGet Rating) had its price objective lowered by equities researchers at Truist Financial from $32.00 to $30.00 in a report issued on Wednesday, The Fly reports. Truist Financial’s price objective indicates a potential upside of 25.73% from the company’s current price.

Separately, TheStreet upgraded Cadence Bank from a “c+” rating to a “b-” rating in a research report on Friday, May 27th. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cadence Bank has an average rating of “Buy” and an average price target of $36.25.

NYSE:CADE opened at $23.86 on Wednesday. The stock’s 50-day simple moving average is $26.08 and its 200 day simple moving average is $29.06. Cadence Bank has a twelve month low of $23.60 and a twelve month high of $34.24. The firm has a market capitalization of $2.59 billion, a PE ratio of 13.87 and a beta of 1.04. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.10.

Cadence Bank (NYSE:CADEGet Rating) last posted its quarterly earnings data on Monday, April 25th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.60. The firm had revenue of $440.26 million during the quarter, compared to analysts’ expectations of $427.57 million. Cadence Bank had a return on equity of 10.63% and a net margin of 15.87%. During the same period in the prior year, the business earned $0.73 EPS. On average, analysts anticipate that Cadence Bank will post 2.79 EPS for the current fiscal year.

(Ad)

What’s the highest-yielding stock you’ve ever owned? The dividends for these stocks have risen so fast over the years that they’re now yielding us an average of 26%!

When you start getting paid 26% on your money, your financial problems tend to pretty much evaporate.

Large investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. raised its stake in Cadence Bank by 1.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 23,047 shares of the company’s stock worth $686,000 after acquiring an additional 431 shares in the last quarter. Ironwood Investment Management LLC raised its stake in Cadence Bank by 1.8% during the 1st quarter. Ironwood Investment Management LLC now owns 32,825 shares of the company’s stock worth $960,000 after acquiring an additional 589 shares in the last quarter. Citadel Advisors LLC raised its stake in Cadence Bank by 3.3% during the 3rd quarter. Citadel Advisors LLC now owns 25,206 shares of the company’s stock worth $554,000 after acquiring an additional 806 shares in the last quarter. Bank of Montreal Can raised its stake in Cadence Bank by 4.4% during the 1st quarter. Bank of Montreal Can now owns 19,804 shares of the company’s stock worth $603,000 after acquiring an additional 841 shares in the last quarter. Finally, Covestor Ltd acquired a new stake in Cadence Bank during the 4th quarter worth $25,000. 71.03% of the stock is owned by hedge funds and other institutional investors.

About Cadence Bank (Get Rating)

Cadence Bank provides commercial banking and financial services in the United States. 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.

See Also

The Fly logo

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in Cadence Bank right now?

Before you consider Cadence Bank, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Cadence Bank wasn’t on the list.

While Cadence Bank currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

Source: marketbeat.com

About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai

Leave a Comment