Cadence Bank (NYSE:CADE – Get 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:CADE – Get 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.
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.
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